Cottonseed oil cake futures surge on high demand

Cottonseed oil cake prices went up by Rs 11 to Rs 1,553 per quintal in futures trade today after creating fresh positions by the operators, propelled by heavy physical demand.
Market players attributed the upward in cottonseed oil cake futures prices to building up demand in spot market from animal feed makers.
Apart from this, tight stocks positions also helped to boost the futures prices, they added.
At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for March enquired higher by Rs 11, or 0.71 per cent, to Rs 1,553 per quintal, revealing an open interest of 1,41,890 lots.

Meanwhile, the delivery for April edged up by Rs 5.50, or 0.35 per cent, to Rs 1,574.50 per quintal, showing the business turnover of 52,570 open lots.