Cottonseed oil cake futures gain on spot demand

NEW DELHI, Aug 2: Cottonseed oil cake prices surge by Rs 10.50 to Rs 1,829 per quintal in futures trade today as traders created positions amidst upbeat physical sentiments.
Marketmen said taking positive cues from physical  markets, where prices were in keen demand due to gearing up in demand for cattle-feed makers amid shortage of ready stocks, encouraged traders to build up positions, which pushed up cottonseed oil cake futures prices to upward side.
At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for the most-traded second contract September advanced by Rs 10.50, or 0.58 per cent, to Rs 1,829 per quintal in a business turnover of 1,02,300 open lots.
Similarly, the delivery of the current contract August marked ahead by Rs 8.50, or 0.47 per cent, to Rs 1,799 per quintal with the open interest of 70,040 lots. (PTI)