Cottonseed Oil Cake Prices Surge Amid Rising Demand

Cottonseed oil cake futures saw a price hike on Wednesday, climbing Rs 22 to reach Rs 3,173 per quintal amid increased market demand. The surge was primarily driven by speculators who established new positions.

This price movement occurred on the National Commodity and Derivatives Exchange, where cottonseed oil cake slated for August delivery rose 0.69% to Rs 3,173 per quintal. Open interest expanded to 67,040 lots.

According to market analysts, the ongoing demand within the cattle feed sector played a pivotal role in influencing the recent uptick in cottonseed oil cake prices, as participants broadened their market positions.

(With inputs from agencies.)