Cottonseed oilcake prices rose by Rs 29 to Rs 2,025 per quintal in futures trading today as speculators engaged in enlarging positions amid a firm trend at the physical markets.
The rise in cottonseed oilcake prices was mostly attributed to widening of positions by speculators, tracking a firm trend at the physical markets on strong demand from cattle-feed makers amid paucity of stocks on thin supplies, marketmen said.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in January was trading higher by Rs 29, or 1.45 per cent, to Rs 2,025 per quintal, in an open interest of 59,830 lots.
Similarly, cottonseed oilcake for delivery in far-month February rose Rs 29, or 1.43 per cent to Rs 2,054 per quintal, having an open interest of 36,110 lots.
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