Cottonseed Oil Cake Futures Soar Amid Rising Demand
Cottonseed oil cake futures surged by Rs 10 to Rs 3,144 per quintal on Friday due to new speculative positions and higher demand in the market. The June delivery contract on the National Commodity and Derivatives Exchange showed increased trading activity with a 0.32% rise.
- Country:
- India
In the latest market movements, cottonseed oil cake futures experienced a notable increase on Friday, climbing Rs 10 to settle at Rs 3,144 per quintal. This rise was attributed to the creation of fresh speculative positions amidst robust demand.
The June delivery contract on the National Commodity and Derivatives Exchange witnessed a 0.32% ascent, driven by significant trading activity, as evidenced by the open interest of 45,320 lots.
Market analysts highlighted that the expanding positions by traders, fueled by the burgeoning demand for cattle feed, primarily contributed to the upswing in cottonseed oil cake prices.
(With inputs from agencies.)
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