Cottonseed oil cake futures rise on fresh bets

Cottonseed oil cake prices on Monday increased by Rs 38 to Rs 2,091 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in December traded up by Rs 38, or 1.85 per cent, to Rs 2,091 per quintal with an open interest of 29,900 lots.

For delivery in January cottonseed oil cake rose by Rs 44, or 2.12 per cent, to Rs 2,116 per quintal with an open interest of 16,030 lots.

Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.