Cottonseed oilcake prices rebounded by Rs 18 to Rs 2,233 per quintal in futures trading today as speculators covered up their short positions amid a firming trend at the spot markets.
Marketmen said that the rise in cottonseed oilcake prices at futures trade was mostly attributed to covering up of pending short positions following a firm trend at the spot markets.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in most-active March contract rose by Rs 18, or 0.81 per cent, to Rs 2,233 per quintal and open interest registered of 1,08,110 lots.
In a similar fashion, cottonseed oilcake for delivery in far-month April also traded higher by Rs 17 or 0.76 per cent to Rs 2,267 per quintal, with the business turnover of 53,060 open lots.
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