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Cottonseed oil cake prices in futures trading saw an uptick of Rs 10 to Rs 2,870 per quintal on Friday, driven by speculators initiating fresh positions in response to heightened demand.
At the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake contracts for August delivery rose by Rs 10 or 0.35 percent, trading at Rs 2,870 per quintal, with an open interest of 56,280 lots.
Market analysts attributed the price rise to the surge in positions taken by market participants, buoyed by the increasing demand for cattle feed. This factor predominantly influenced the upward movement in cottonseed oil cake prices.
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