Cottonseed oil cake prices rose 1.37 per cent to Rs 1,335 per quintal in futures trade today as participants expanded their holdings amid firm spot market demand.
Market players said strong demand from animal feed makers amid shortage of ready stocks in the spot markets enthused traders to go for long positions, which drove the cottonseed oil cake futures prices higher for the second consecutive day.
At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for the most traded second contract June jumped by Rs 18 or 1.37 per cent to Rs 1,335 per quintal, with an open interest of 1,70,450 lots.
Similarly, the delivery for May month contract shot up by Rs 14.50 or 1.10 per cent to Rs 1,333.50 per quintal, showing an open interest of 451,700 lots.
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