Mustard seed prices drifted lower by Rs 22 to Rs 3,921 per quintal in futures trading today as speculators cut down their holdings, driven by a weak trend at the spot markets on slackened demand.
At the National Commodity and Derivatives Exchange, mustard seed for delivery in July slipped by Rs 22, or 0.56 per cent, to Rs 3,921 per quintal, clocking an open interest of 76,910 lots.
Similarly, the most-traded delivery in June receded by Rs 20, or 0.51 per cent, to Rs 3,879 per quintal with a business turnover of 88,690 lots.
Marketmen said comfortable position of stocks on relentless supplies from growing areas amid slackness in demand from mills in the spot markets, led to the fall in mustard seed futures.