Surge in Cottonseed Oil Cake Prices Amidst Rising Demand

Cottonseed oil cake prices surged by Rs 15, settling at Rs 3,171 per quintal on Thursday in the futures trade. This price hike came as a result of speculators creating new positions to capitalize on the soaring demand in the market.

According to the National Commodity and Derivatives Exchange, the futures contract for July delivery witnessed a 0.47% increase, trading higher with an open interest of 66,440 lots. The uptick reflects a growing interest and participation in this commodity.

Industry experts highlight that the burgeoning demand for cattle feed played a significant role in influencing the current price trends, leading market participants to expand their positions for potential gains.

(With inputs from agencies.)