Cottonseed recovers in futures trade

Cottonseed oilcake prices recovered by Rs 5 to Rs 3,915 per quintal in futures trading today amid a firm trend at physical markets.

Marketmen attributed recovery in cottonseed oilcake prices to building up of fresh positions by participants coupled with a firm trend at spot markets.

At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in February was trading higher by Rs 5 to Rs 3,915 per quintal with an open interest of 18,740 lots.

Cottonseed oilcake for delivery in most-active March month also rose by a similar margin to trade at Rs 3,969 per quintal, with the business turnover of 41,350 open lots.