Cottonseed futures up on increased buying

Cottonseed prices gained Rs 17 to Rs 1,174 per quintal in futures trading today on increased buying by speculators guided by higher domestic markets sentiment.

Marketmen said apart from low levels buying, fall in supply in spot markets, mainly influenced the trading sentiment here in futures price of cottonseed oilcake.

At the National Commodity and Derivatives Exchange, cottonseed oil cake prices for delivery in March rose by Rs 17, or 1.47%, to Rs 1,174 per quintal, with an open interest of 840 lots.

Similarly, the prices for delivery in December increased by Rs 5, or 0.45%, to Rs 1,119 per quintal, with an open interest of 34,160 lots.