Mustard seed goes up in futures trade on spot demand

Mustard seed prices were higher by Rs 7 to Rs 3,708 per quintal in futures trade today on accumulation of fresh positions by speculators, driven by rising demand in the spot demand.
Marketmen said fresh positions built-up by speculators, tracking strong demand from oil mills in the spot markets against restricted arrivals that led to rise in mustard seed prices in futures trade here.
At the National Commodity and Derivative Exchange counter, mustard seed for most-traded delivery in September contracts was trading higher by Rs 7 or 0.19 per cent to Rs 3,708 per quintal, open interest stood at 45,680 lots.

Also, the August delivery contracts of mustard seed inched up by Rs 3 or 0.08 per cent to Rs 3,674 per quintal, with the business turnover of 28,010 open lots.