Cottonseed oilcake futures surge by Rs 22 per quintal

Cottonseed oilcake prices spurted by Rs 22 to Rs 1,939 per quintal in futures trading today as participants indulged in expanding their exposure, triggered by a firm trend at the spot markets.
Marketmen said widening of positions by traders, tracking a firm trend at the spot markets on strong demand amid restricted arrivals form growing belts, mainly led to the rise in cottonseed oilcake prices in futures trade here.
In futures trading at the National Commodity and Derivative Exchange, cottonseed oilcake delivery for the most- active delivery in December month contracts were higher by Rs 22 or 1.15 per cent to Rs 1,939 per quintal, having an open interest of 64,380 lots.

In a similar manner, cottonseed oilcake for delivery in January next year was trading at up by Rs 20 or 1.04 per cent at Rs 1,935 per quintal, having a business turnover of 44,140 lots.