Cottonseed oilcake prices went up by Rs 23 to Rs 2,050 per quintal in futures trading today as participants indulged in covering-up their short positions, tracking a firm trend at the physical markets on strong demand amid tight supplies.
Marketmen said after yesterday's sell-off, traders indulged in covering up their short positions, this attributed the rise in prices in futures trade.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in February recovered by Rs 23, or 1.13 per cent, to Rs 2,050 per quintal, with an open interest of 39,980 lots.
Also, the most-active delivery in January rose by Rs 20, or 1 per cent, to Rs 2,017 per quintal, with an opening interest at 57,170 lots.
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