Cottonseed oilcake futures surge by Rs 50 a quintal

Cottonseed oilcake futures traded higher by Rs 50 per quintal today as speculators built-up positions amid a firming trend at the spot markets.

At the National Commodity and Derivative Exchange, cottonseed oilcake delivery for delivery in far-month June climbed Rs 50, or 2.33 per cent to Rs 2,192 per quintal, with an open interest of 1,110 lots.

Also, delivery in February month spurted Rs 37, or 1.76 per cent to Rs 2,140 per quintal, in an open interest of 10,900 lots.

In a similar manner, most-active delivery in March contracts was trading higher by Rs 32, or 1.53 per cent to Rs 2,192 per quintal, clocking an open interest of 84,910 lots.
 

Market analysts said strong demand amid tight supplies in physical markets mainly influenced cottonseed oilcake prices at futures trade.