Futures Trading Sees Uptick as Speculators Enter Market
New Delhi, April 1: Cottonseed oil cake prices experienced a notable rise on Tuesday, climbing Rs 62 to reach Rs 2,843 per quintal in futures trade. The increase was driven by fresh speculative positions amid robust demand from the cattle feed sector.
On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake contracts for May delivery traded up by Rs 62, marking a significant rise of 2.18% at Rs 2,843 per quintal. The exchange reported an open interest of 38,360 lots, highlighting growing market participation.
Market analysts attribute the price escalation primarily to traders expanding positions, buoyed by heightened demand for cattle feed products. This upward trend suggests continued optimism regarding near-term demand strength in the commodity market.
