Cottonseed Oil Cake Prices Surge Amid Rising Demand
Cottonseed oil cake prices rose by Rs 18 to Rs 3,129 per quintal in futures trade due to fresh speculative positions amid increasing demand. The July delivery on the National Commodity and Derivatives Exchange climbed by 0.58%, influenced by higher demand for cattle feed and an open interest of 40,600 lots.
- Country:
- India
On Wednesday, cottonseed oil cake prices saw an uptick of Rs 18, reaching Rs 3,129 per quintal in the futures market. This increase was driven by speculators creating fresh positions in response to heightened demand.
Data from the National Commodity and Derivatives Exchange revealed that cottonseed oil cake for July delivery rose by 0.58%, trading at Rs 3,129 per quintal. The trading session witnessed an open interest of 40,600 lots.
Experts attributed the rising prices to participants expanding their positions amid a growing demand for cattle feed, which primarily influenced the market dynamics for cottonseed oil cake.
(With inputs from agencies.)
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