Cottonseed oil cake futures gain on spot demand

NEW DELHI, May 31: Cottonseed oil cake prices  rose further by Rs 5.50 to 1,372 per quintal in futures trade today as speculators indulged in enlarging their bets amid a firm trend at the physical markets.
Marketmen said raising of positions by participants, tracking a firm trend at the spot markets on frantic demand against restricted supplies, kept cottonseed oil cake prices higher at futures trade here.
At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in July advanced by Rs 5.50 or 0.40 per cent to Rs 1,372 per quintal, with an open interest of 85,290 lots.
Cottonseed oil cake for the most-active delivery in June contracts also went up by Rs 5 or 0.37 per cent to Rs 1,347.50 per quintal,  having an open interest of 1,36,250 lots. (PTI)