Cottonseed oil cake futures rise on spot cues

Cottonseed oil cake prices went up by Rs 37.50 to Rs 1,865 per quintal in futures trade today on heavy accumulations by speculators, tracking strong physical market sentiment.
Marketmen said, all-round buying by investors backed by robust spot markets where prices were trading higher on low stocks position amid a spurt demand for animal feed makers, mainly ascertained a sharp upsurge in cottonseed oil cake futures prices here.
At the National Commodity and Derivatives Exchange counter, cottonseed oil cake delivery for January climbed up by Rs 37.50, or 2.09 per cent, to Rs 1,835 per quintal, with an open interest of 91,730 lots.

In a similar way, February delivery jumped up by Rs 36.50, or 2 per cent, to Rs 1,865 per quintal, having an open interest of 39,150 lots.