New Delhi, Feb 3 (PTI): Cottonseed oil cake prices witnessed an upward trend on Monday, rising by ₹33 to reach ₹2,703 per quintal in the futures market. The surge was driven by fresh speculative positions amid growing demand.
On the National Commodity and Derivatives Exchange (NCDEX), the March delivery contract for cottonseed oil cake registered a 1.22% increase, trading at ₹2,703 per quintal. The contract saw an open interest of 34,910 lots, reflecting active participation in the market.
According to market analysts, the strong demand for cattle feed prompted traders to raise their positions, leading to the price hike. The increased demand and speculative activity played a key role in influencing cottonseed oil cake rates.
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