On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake futures contracts for March delivery climbed Rs 8, marking an increase of 0.30%, to settle at Rs 2,640 per quintal. The open interest stood at 68,330 lots, indicating heightened trader participation.
Market analysts attribute the upward price trend to increased buying activity by speculators, anticipating sustained higher demand from livestock and cattle feed industries.
Cottonseed oil cake is a crucial byproduct widely used as cattle feed, and increased demand typically drives up futures prices, benefiting traders active in this commodity segment.
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