Cottonseed oilcake prices rose by Rs 18 to Rs 1,269 per quintal in futures trade today following brisk buying driven by low inventories in the spot markets.
Market analysts said heavy demand in spot markets against low inventories following restricted supply mainly supported the uptrend in cottonseed prices.
Also, heavy buying by cattle-feed making industries further pushed up the prices, they added.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in August rose by Rs 18, or 1.44% to Rs 1,269 per quintal, with an open interest of 2,880 lots.
The prices for delivery in June jumped up by Rs 13, or 1.11% to Rs 1,183 per quintal, with a business volume of 82,260 lots.
Likewise, cottonseed oilcake prices for delivery in May rose by Rs 10, or 0.88% to Rs 1,140 per quintal, with a business turnover of 23,330 lots.