Cottonseed oilcake futures rise on increased buying

Cottonseed oilcake prices flared up by Rs 29 to Rs 2,307 per quintal in future trading today following increased buying by operators, in line with emerging physical markets.
Markemen said speculators were raising their holdings on the back of emerging spot markets where prices enquired higher due to strong demand for cattle-feed makers amid less arrivals from growing regions.
At the National Commodity and Derivative Exchange counter, cottonseed oilcake delivery for the second contract April month advanced by Rs 29, or 1.27 per cent, to Rs 2,307 per quintal, having an open interest of 56,270 lots.
Most active first contract March month delivery also hardened by Rs 28, or 1.25 per cent, to Rs 2,275 per quintal, clocking an open interest of 1,01,220 lots.