Cottonseed oil cake futures extend gains

Cottonseed oil cake prices rose by another Rs 16 to Rs 1,496 per quintal in futures trade today as traders engaged in enlarging positions, buoyed by upbeat spot markets.
Marketmen said a firm trend at the physical markets on increased offtake by animal feed makers amid thin supplies in the spot market players said, paucity of stocks due to thin supplies amid steady offtake by animal feed makers in spot markets mainly supported the upside in cottonseed oilcake prices at futures market here.
At the National Commodity and Derivative Exchange, cottonseed oil cake delivery for the most-traded delivery in December climbed Rs 16 or 1.08 per cent to Rs 1,496 per quintal, with the business turnover of 65,780 open lots.

Cottonseed oilcake for delivery in January also hardened by Rs 14 or 0.93 per cent to Rs 1,515 per quintal, in an open interest of 7,810 lots.