Cottonseed oil cake futures rise on fresh bets
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For delivery in April, cottonseed oil cake traded higher by ₹18, or 0.8 per cent, to ₹2,265 per quintal with an open interest of 63,610 lots
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. Updated: 01 Mar 2021, 01:34 PM IST PTI
On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in March traded up by ₹22, or 0.99 per cent, to ₹2,242 per quintal with an open interest of 1,01,530 lots
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Cottonseed oil cake prices on Monday increased by ₹22 to ₹2,242 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.
On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in March traded up by ₹22, or 0.99 per cent, to ₹2,242 per quintal with an open interest of 1,01,530 lots.
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Express News Service
RAIPUR: A record procurement of over 92 lakh metric tonne (LMT) of paddy on the minimum support price (MSP) this year has apparently put the Congress-ruled Chhattisgarh government in a fix. The state cabinet on Thursday took a decision to auction 20.5 LMT of paddy, been cited as surplus.
The state government expressed disappointment and put the blame for such situation on the Centre, which restricted the rice procurement from Chhattisgarh to 24 LMT.
“We were given the initial assurance by the central government on 60 LMT to be procured for the Central pool during the current kharif marketing season. So the state went ahead procuring 92 LMT paddy”, said Ravindra Choubey, the state agriculture minister.
Cottonseed Oilcake: Sellers creeping in
Akhil Nallamuthu
BL Research Bureau |
Updated on
February 24, 2021
The futures contract of cottonseed oilcake (COCUDAKL) on the National Commodity and Derivatives Exchange (NCDEX), that had a good run in the last 12 months, might have a tough time going ahead at least in the near-term.
As the rally started to lose steam and utilising the weakness of the bulls, sellers are making an attempt to take advantage of the trend.
Even though the contract was crawling in a sideways trend between ₹2,000 and ₹2,200 in December and January, it broke out of the range in early February.
However, the rally did not sustain and the uptrend turned fragile.