Conttonseed oil cake prices hardened by Rs 22 to Rs 1,875 per quintal in futures trading today after participants accumulated positions, supported by a firm trend at the spot market on strong demand.
Market players said raising of positions by participants in line with a firm trend at the spot markets on tight supplies from growing regions amid a rising demand from cattle-feed makers, mainly influenced cottonseed oilcake prices in futures market.
At the National Commodity and Derivative Exchange, cottonseed oil cake for delivery this month strengthened by Rs 22 or 1.19 per cent to Rs 1,875 per quintal, with an open interest of 5,580 lots.
Cottonseed oilcake for most-active June contracts hardened by Rs 11 or 0.57 per cent to Rs 1,952 per quintal, having an open interest of 1,07,970 lots.
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