NCDEX cotton oilcake up 2% on bargain buying.

Futures contracts of cottonseed oilcake on NCDEX were 2% higher on bargain buying by investors after prices fell to over 18-month low of 1,568 rupees per 100 kg. The most active July contract of cottonseed oilcake on NCDEX was at 1,707 rupees per 100 kg, were up 2.2% from previous close, while June contract was up 1,632 rupees per 100 kg, up 2.1%. Open interest in the July contract increased to 92,740 tonne from 88,830 tonne indicating bargain buying by investors. In Amravati, Maharashtra cottonseed oilcake was sold for 1,650-1,750 rupees per 100 kg, up 5-10 rupees from previous close.