Cottonseed oilcake prices advance on physical demand

Cottonseed oilcake prices were up by Rs 27 to Rs 1,935 per quintal in futures trade today on rising demand in the physical markets.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in far-month September contract climbed by Rs 27, or 1.42 per cent, to Rs 1,935 per quintal, with an open interest of 420 lots.
On similar lines, June contracts were trading higher by Rs 19, or 1.07 per cent, to Rs 1,787 per quintal, having an open interest of 97,660 lots.
Marketmen said the rise in cottonseed oilcake futures was mostly supported by a firming trend at domestic spot markets on rising demand from cattle-feed stockists amidst restricted arrivals.