Mustard seed futures gain 1.68 pc on firm spot market cues

Mustard seed prices climbed by 1.68 per cent to Rs 4,106 per quintal in futures market as traders raised bets, taking positive cues from spot market on upsurge in demand.
At the National Commodity and Derivatives Exchange, mustard seed for delivery in December shot up by Rs 68, or 1.68 per cent, to Rs 4,106 per quintal with an open interest of 32,550 lots.
Likewise, January delivery was trading higher by Rs 57, or 1.40 per cent, to Rs 4,125 per quintal in 21,970 lots.
Analysts said widening of position by participants, tracking a firm trend at spot market on the back of rising demand, mainly pushed up mustard seed prices at futures trade.