Cottonseed oil cake prices went up by Rs 14 to Rs 1,511 per quintal in futures trade today as traders accumulated fresh positions, driven by a firming trend at the physical market.
Marketmen said building up of fresh positions by participants, tracking a better trend at the spot markets on the back of pick-up in demand from animal feed makers amid tight stocks due to pause in supplies led to the rise in cottonseed oil cake prices in futures trade.
At the National Commodity and Derivatives Exchange, cottonseed oil cake for the most-traded delivery in July contract recovered by Rs 14 or 0.94 per cent to Rs 1,511 per quintal, with an open interest of 1,46,390 lots.
Similarly, the delivery in August gained Rs 11.50 or 0.75 per cent to Rs 1,553.50 per quintal, with an open interest of 54,180 lots.
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