Supported by restricted supplies and strong demand in physical markets, cottonseed oilcake prices rose Rs 38 to Rs 2,055 per quintal at futures trade today, as speculators enlarged positions.
Marketmen said besides low inventories following tight arrivals along with boost in demand from cattle-feed makers in spot markets, mainly attributed the rise here in future trading.
At the National Commodity and Derivatives Exchange, cottonseed oilcake delivery in most-active September month hardened by Rs 38, or 1.88 per cent to Rs 2,055 per quintal and open interest stood of 93,880 lots.
Also, cottonseed oilcake for delivery this month also gained Rs 32, or 1.64 per cent to Rs 1,988 per quintal, having an open interest of 700 lots.
