Mustard seed prices on Tuesday dropped by Rs 63 to Rs 4,584 per quintal in futures trade as speculators cut down their positions on subdued demand.
On the National Commodity and Derivatives Exchange, mustard seed contracts for January delivery fell by Rs 63, or 1.36 per cent, to Rs 4,584 per quintal in a business turnover of 20,230 lots.
Mustard seed contracts for February delivery declined by Rs 62, or 1.35 per cent, to Rs 4,543 per quintal in a business turnover of 2,700 lots.
Marketmen said offloading of positions by participants following a weak trend in spot market led to fall in mustard seed prices.
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