NCDEX cotton oilcake up 2% on low raw cotton supply.

Futures contracts of cottonseed oilcake rose nearly 2% on the NCDEX due to a slow down in arrivals of raw cotton in the domestic markets. Arrivals of new crop are in the range of 180,000-200,000 bales (1 bale = 170 kg), as against 250,000 bales during the peak season. Concerns over fall in India’s production in 2017-18 (Oct-Sep), following severe pink bollworm pest attack in Maharashtra and Telangana have restricted the supply.