Cottonseed Oil Cake Prices Surge Amidst Higher Demand
Cottonseed oil cake prices climbed by Rs 5 to Rs 3,213 per quintal in futures trading, driven by rising demand from speculators. On the National Commodity and Derivatives Exchange, the July delivery of this commodity saw increased trading activity with an open interest of 89,920 lots. Market participants attribute the price hike to growing demand for cattle feed.
- Country:
- India
Cottonseed oil cake prices experienced an upward momentum on Tuesday, rising by Rs 5 to Rs 3,213 per quintal in futures trading as demand swelled.
On the National Commodity and Derivatives Exchange, the July delivery cottonseed oil cake contract witnessed a 0.16 per cent increase, reflecting a surge in speculative activity and an open interest of 89,920 lots.
According to market sources, the price uptick stems from heightened demand for cattle feed, which prompted participants to widen their positions in the market.
(With inputs from agencies.)
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