Cottonseed oil cake prices recorded an increase of Rs 23, reaching Rs 3,586 per quintal in futures trade on Wednesday. This increase was driven by speculators taking new positions in response to increased demand for the commodity.

There was a gain of Rs 23, or 0.64 percent, in the price of cottonseed oil cake for delivery in June on the National Commodity and Derivatives Exchange. The price reached Rs 3,586 per quintal, and there was an open interest of 59,920 lots.

Participants in the market reported that the growth of positions, which was driven by an increasing demand for cattle feed, had the most significant impact on the prices of cottonseed oil cake.