Cottonseed oilcake prices surged by Rs 25 to Rs 1,235 per quintal in the futures trading today following brisk buying by traders in line with a firm spot markets sentiment.
Market analysts said restricted arrivals against rising demand in physical markets mainly pushed up cottonseed prices in futures trade.
At the National Commodity and Derivatives Exchange, cottonseed for delivery in August shot up by Rs 25, or 2.07% to Rs 1,235, with an open interest of 31,970 lots.
Likewise, for delivery in July, the prices rose by Rs 20, or 1.72%, to Rs 1,181, with an open interest of 41,580 lots.
