Oil Seeds Market News

Rise in demand of Crude palm and Cottonseed oil.

Crude palm oil:
Crude palm oil prices went up by 1.22 per cent to Rs 506.40 per 10 kg in futures market as speculators created fresh positions, driven by pick up in demand at the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in September rose by Rs 6.10, or 1.22 per cent, to Rs 506.40 per 10 kg, in a business turnover of 341 lots.

Similarly, the oil for delivery in current month was trading higher by Rs 4.70, or 0.94 per cent, to Rs 505 per 10 kg in 406 lots.

Cottonseed oilcake :
Cottonseed oilcake prices zoomed Rs 33 to Rs 1,447 per quintal in futures trade after participants widened their holdings in tune with strong demand at the physical markets.

At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in August went up by Rs 33, or 2.33 per cent, to Rs 1,447 per quintal, with an open interest of 12,870 lots.

Cottonseed oilcake for delivery in September also climbed up by Rs 28, or 1.93 per cent, to Rs 1,476 per quintal, having an open interest of 94,770 lots.

Source: http://economictimes.indiatimes.com/