Cottonseed oilcake futures rise on spot demand

Cottonseed oil cake prices were trading higher by Rs 5 to Rs 1,508 per quintal in futures trade today after operators accumulated fresh positions in sync with a rising trend at the physical market.

Marketmen said, building-up of positions, driven by rising demand from animal feed makers against tight supply in the spot markets, kept cottonseed oilcake prices higher in futures trade.

At the National Commodity and Derivatives Exchange, cottonseed oil cake for December moved up by Rs 5, or 0.33 per cent, to Rs 1,508 per quintal, with an open interest of 66,760 lots.

Also, the January contracts edged up by Rs 4, or 1,523 per quintal, in an open interest of 7,680 lots.