Cottonseed oilcake prices flared up by Rs 24 to Rs 1,933 per quintal in futures trading today following widening of bets by speculators, tracking a firm trend at the physical markets.
Marketmen said rising price at spot markets backed up by pick-up in demand and tight supplies mainly influenced cottonseed oilcake prices at futures trade here.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in most-active December hardened by Rs 24 or 1.26 per cent to Rs 1,933 per quintal, with an open interest of 63,600 lots.
In a similar fashion, cottonseed oilcake for delivery in January also improved by Rs 17 or 0.88 per cent to Rs 1,938 per quintal, in an open interest of 45,020 lots.
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