NCDEX cotton oilcake recovers on bargain buying.

Futures contracts of cottonseed oilcake on the NCDEX recovered due to increased buying after prices hit a 17-month low of 1,845 rupees per 100 kg on Thursday. The most-active June contract was up 1.8% from the previous close. Gains in cotton futures on the MCX also contributed to the rise. The May contract traded up 1.6%. Cottonseed oilcake, a derivative of cotton, is used as animal feed. In Akola, Maharashtra, the benchmark market, cottonseed oilcake was sold at 1,900 rupees per 100 kg, while in Kadi, Gujarat, the commodity was sold at 1,960 rupees, both unchanged from the previous day.