Mustard seed futures down 0.30% on low demand

Mustard seed prices softened by 0.30 per cent to Rs 4,005 per quintal in futures trade today as speculators trimmed positions following easing demand in the spot market.

At the National Commodity and Derivatives Exchange, mustard seed for delivery in June fell by Rs 12, or 0.30 per cent, to Rs 4,005 per quintal with an open interest of 1,45,610 lots.

Similarly, the oil for delivery in July shed Re 1, or 0.02 per cent, to Rs 4,059 per quintal in 18,500 lots.

Marketmen said fall in demand in the spot market against sufficient stocks position on increased supplies from growing areas led to the decline in mustard seed prices in futures trade.