Cottonseed oilcake future ends higher on brisk demand

Cottonseed oil cake prices ended higher by Rs 21 to Rs 1,501 per quintal in future trade today after speculators widened their positions following upbeat physical market sentiments.
According to marketmen, traders have widened positions in tune with firm trend in the spot markets, where prices enquired higher on thin supplies from growing belts amid a strong demand for animal feed makers, which directed the uptick in cottonseed oil cake future prices.
At the National Commodity and Derivative Exchange counter, cottonseed oil cake delivery for the most traded September contract shot up by Rs 21 or 1.42 per cent to end at Rs 1,501 per quintal with an open interest of 93,080 lots.

Likewise, the delivery for the second contract December hardened by Rs 20 or 1.28 per cent to conclude the day at Rs 1,578 per quintal, having an open interest of 25,150 lots.