Cottonseed oilcake futures rise on physical demand

Cottonseed oil cake prices went up by Rs 18, to Rs 1,572 per quintal in futures trade today as participants increased exposure, buoyed by upbeat physical markets sentiment.
Market players said, raising of bets by traders, tracking a firm trend at the physical markets, mainly supported the upside in cottonseed oilcake prices in futures trade here.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in December shot up by Rs 18, or 1.16 per cent, to Rs 1,572 per quintal, having an open interest of 48,550 lots.
The delivery for September also advanced by Rs 6, or 0.39 per cent, to Rs 1,530 per quintal, showing an open interest of 26,050 lots.