Cottonseed oil cake futures extend gains

NEW DELHI, July 5: Cottonseed oil cake added Rs 4 to Rs 1,548 per quintal in futures trade today as traders widened exposures on the back of emerging physical markets supported by approval of MSP price of 14 crops by the government.
Market players said investors were raising their holdings, tracking firm physical markets sentiment backed up by the hike in minimum support prices (MSP) for the 14 kharif crops by the government.
The government on Wednesday hiked the minimum support price for paddy by a record Rs 200 per quintal.
At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for July went up by Rs 4 or 0.26 per cent to Rs 1,548 per quintal, with an open interest of 93,266 lots.
Also, the delivery for August edged up by Rs 3.50 or 0.22 per cent to Rs 1,578.50 per quintal, with a business turnover of 81,650 open lots. (PTI)