Cottonseed oil cake futures extend gains

NEW DELHI, May 3: Cottonseed oil cake prices rose by another Rs 40 to Rs 1,262 per quintal as participants engaged in accumulating positions, taking positive cues from the spot markets.
Marketmen said widening of bets by participants, tracking a firm trend at the physical markets due to shortage of ready stocks against strong demand from animal feed makers, kept  cottonseed oil cake prices higher.
At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in May shot up  further by Rs 40 or 3.27 per cent to Rs 1,262 per quintal, with the business turnover of 1,10,290 lots.
Cottonseed oil cake for the most-traded delivery in June jumped Rs 31.50 or 2.56 per cent to Rs 1,263 per quintal, having an open interest of 1,85,070 lots. (PTI)