Cottonseed oil cake prices rose by Rs 8.50 to Rs 1,320 per quintal in futures trade today as participants raised bets amid a firm trend at the physical market on strong demand.
Marketmen said the rise in cottonseed oil cake prices was attributing to raising of bets by participants, triggered by robust demand from animal feed makers amid shortage of ready stocks in the spot markets.
At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for delivery in the current month contracts moved up by Rs 8.50, or 0.65 per cent, to Rs 1,320 per quintal with an open interest of 4,800 lots.
Similarly, the most-traded delivery in June contracts was up by Rs 6.50, or 0.50 per cent, to Rs 1,303 per quintal with an open interest of 1,69,680 lots.
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