Mustard seed futures slip on physical demand

Mustard seed prices looked down by Rs 23 to Rs 3,950 per quintal in futures trade today as traders preferred to reduced holdings in line with weak demand at spot markets.
Market players said cutting down of bets by the participants in sync with dimming demand for oil mills and uninterrupted arrivals from producing belts in physical markets, mainly described downbeat sentiments in mustard seed prices here in the futures market.
At the National Commodity and Derivative Exchange counter, mustard seed delivery for the most active January month contract dropped by Rs 23 or 0.58 per cent to Rs 3,950 per quintal, having an open interest of 45,970 lots.

Meanwhile, the delivery for the February month contract came down by Rs 9 or 0.22 per cent to Rs 4,104 per quintal, with an open interest of 16,470 lots.