Cottonseed oilcake prices surged by Rs 50 to Rs 2,061 per quintal in futures trade today on the back of aggressive buying by speculators thanks to firm physical markets.
Marketmen said the rise in cottonseed oilcake prices at futures to trade was mostly attributed to a spurt in demand from animal feed makers at the physical markets coupled with less arrivals.
At the National Commodity and Derivative Exchange counter, cottonseed oilcake for delivery in far-month April contracts flared up by Rs 50 or 2.49 per cent to Rs 2,061 per quintal, with an open interest of 30 lots.
In a similar fashion, the most-active delivery in January 2017 shot up by Rs 38 or 1.96 per cent to Rs 1,972 per quintal, showing an open interest of 54,190 lots.
Disclaimer: No Business Standard Journalist was involved in creation of this content
