Cottonseed Oil Cake Prices Surge Amid Rising Demand
Cottonseed oil cake prices saw a rise of Rs 21 to Rs 2,962 per quintal in futures trade on Friday. The increase was driven by speculators creating fresh positions due to higher demand, impacting the June delivery on the National Commodity and Derivatives Exchange.
- Country:
- India
On Friday, the prices of cottonseed oil cake experienced an uptick of Rs 21, reaching Rs 2,962 per quintal in futures trading. This movement was attributed to speculators forming new positions in response to heightened demand.
Trading on the National Commodity and Derivatives Exchange showed that the cottonseed oil cake meant for June delivery appreciated by Rs 21, or 0.71%, now standing at Rs 2,962 per quintal.
Market analysts pointed out that the expansion of positions by market participants, fueled by a robust demand for cattle feed, was the key driver behind the increase in cottonseed oil cake prices.
(With inputs from agencies.)
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- cottonseed
- oil cake
- prices
- rise
- demand
- futures trade
- commodity
- market
- June delivery
- National Exchange
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