Cottonseed futures up on fresh buying

NEW DELHI, MARCH 21:

Cottonseed oilcake prices rose by Rs 12 to Rs 1,244 a quintal in futures trading today following fresh buying by traders in line with a firm spot market sentiment.

Market analysts said increased buying by traders amid restricted supplies coupled with rising demand in the physical markets, boosted prices.

At the National Commodity and Derivatives Exchange, cottonseed futures price for delivery in April at Akola (Maharashtra) rose by Rs 12 or 0.97 per cent to Rs 1,244 a quintal, with an open interest of 90,640 lots.

Similarly, prices for delivery in May also moved up by Rs 11 or 0.88 per cent to Rs 1,268 a quintal, with an open interest of 31,470 lots.

(Source: http://www.thehindubusinessline.com/markets/commodities/article1558164.ece)