Cottoseed oilcake prices rose by Rs 22 to Rs 1,363 per quintal in futures trade today on heavy buying by speculators on higher spot markets sentiment.
Marketmen said restricted supply and pick up in demand at physical markets mainly influenced the trading sentiments here in futures price of cottonseed oilcake.
Strong demand from cattle-feed making industries also boosted the trading sentiments, they said.
At the National Commodity and Derivatives Exchange, cottonseed oilcake price for delivery in September rose by Rs 22, or 1.64%, at Rs 1,363 per quintal, with an open interest of 23,190 lots.
For delivery in June, the cottonseed gained Rs 18, or 1.47%, to Rs 1,243 per quintal, with an open interest of 18,980 lots.
Similarly, for July delivery the prices edged up by Rs 14, or 1.12%, to Rs 1,260 per quintal, with an open interest of 1,68,390 lots.