Cottonseed futures up Rs 6 per quintal

Cottonseed oilcake prices have gone up by Rs 6 to Rs 1,941 per quintal in futures trading today.

New Delhi, Dec 21: Cottonseed oilcake prices improved by Rs 6 to Rs 1,941 per quintal in futures trading today as traders were accumulating positions, thanks to firm physical markets.

Marketmen said, rising price of cottonseed in futures markets was mainly influenced by the widening of bets by traders, driven by firm spot markets, where prices remained in demand following better offtake by animal feed makers amid less arrival from growing regions.

At the National Commodity and Derivatives Exchange counter, cottonseed oilcake delivery for January rose by Rs 6, or 0.31 per cent, to Rs 1,941 per quintal, depicting an open interest of 57,120 lots.

February delivery also increased by same margins of Rs 6, or 0.30 per cent, to Rs 1,974 per quintal, showing an open interest of 30,570 lots.

PTI