Cottonseed oilcake prices recovered by Rs 14 to Rs 1,927 per quintal in futures trading today after speculators enlarged their positions at existing levels, tracking a firm trend at the physical markets.
Marketmen said besides widening of positions by speculators at prevailing levels by traders, a firm trend in spot markets following less arrivals and pickup in demand, mainly attributed the rise in cottonseed oilcake prices at futures trade.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in December was trading higher by Rs 14, or 0.73 per cent, to Rs 1,927 per quintal, with an open interest of 57,630 lots.
In a similar fashion, cottonseed oilcake for delivery in far-month January rose Rs 11, or 0.57 per cent, to Rs 1,930 per quintal, having an open interest of 47,030 lots.
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