Mustard seed futures climb on spot demand

Mustard seed prices firmed up by Rs 41 to Rs 3,771 per quintal in futures trading today after speculators accumulated huge positions in line with robust demand at the physical markets.
At the National Commodity and Derivative Exchange counter, mustard seed for the most-traded delivery in October month contract shot up by Rs 41 or 1.10 per cent to Rs 3,771 per quintal, with an open interest of 40,690 lots.
In a similar manner, the delivery for the November month contract was trading higher by Rs 44 or 1.15 per cent to Rs 3,856 per quintal, in an open interest of 22,260 lots.

Marketmen said a firming trend at the domestic spot markets on spurt in demand from oil mills,driven by ongoing festive season amid tight arrivals from producing belts, mainly attributed the rise in mustard seed prices in futures trade here.