Mustard seed futures rise on spot cues

Mustard seed prices rose Rs 57 to Rs 4,165 per quintal in futures trade today as participants created positions on upbeat physical sentiments.
Market players said immense buying by investors in line with rising prices at physical markets due to paucity of ready stocks, powered by brisk demand from oil mills, ascertained upsurge in mustard seed futures prices.
Strong demand for mustard seed cake from animal feed makers too influenced prices in futures trade, they quoted.
At the National Commodity and Derivative Exchange counter, mustard seed delivery for most traded April month contract jumped up by Rs 57 or 1.39 per cent to Rs 4,165 per quintal, with the business turnover of 32,090 open lots.

Similarly, the delivery for the May month contract climbed up by Rs 55 or 1.33 per cent to Rs 4,204 per quintal, with an open interest of 11,600 lots.