Cottonseed futures rise on robust spot demand

Cottonseed prices spurted by Rs 25 to Rs 1,120 per quintal in futures trading on Monday on brisk buying by traders in line with firm spot markets sentiment.

Marketmen said traders were interested to enlarge holdings on the back of low inventories and heavy buying in spot markets.

At the National Commodity and Derivatives Exchange platform, cottonseed for current-month January flared up by Rs 25 or 2.28 per cent to Rs 1,120 per quintal, with an open interest of 17,870 lots.

February delivery also hardened by Rs 26 or 2.31 per cent to Rs 1,150 per quintal, with an open interest of 80,570 lots.