Cottonseed Oil Cake Prices Surge Amid Rising Demand

Cottonseed oil cake prices climbed by Rs 21, reaching Rs 2,962 per quintal on Friday in futures trading. The rise occurred as speculators created fresh positions, buoyed by higher demand.

On the National Commodity and Derivatives Exchange, the price for June delivery saw an uptick of Rs 21, or 0.71%, trading at Rs 2,962 per quintal. The open interest for this contract stood at 85,760 lots.

Market experts attributed the price increase to the expansion of positions by traders amid a surge in demand for cattle feed. This growing demand is largely influencing the market dynamics of cottonseed oil cake.

(With inputs from agencies.)