Cottonseed oilcake price gains on spot demand

Cottonseed oilcake prices flared up by Rs 34 to Rs 1,989 per quintal in futures trade today, tracking firming physical markets as traders expanded their positions.
Marketmen said pick-up in demand amid fall in supplies from growing regions, mainly influenced cottonseed oilcake prices at the spot markets.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in most-active delivery in December surged by Rs 34, or 1.74 per cent to Rs 1,989 per quintal, with an open interest of 66,260 lots.
On similar lines, cottonseed oilcake for delivery in current month also advanced by Rs 13, or 0.48 per cent to Rs 2,700 per quintal, clocking an open interest of 38,260 lots.