Mustardseed futures add gains on spot demand

Mustardseed prices rose by another Rs 15 to Rs 3,842 per quintal in futures trade today as speculators indulged in building up positions amid a firming trend in the physical market on robust demand.
Marketmen said the persistent rise in mustardseed prices a futures trade is attributed to raising of bets by participants, taking positive cues from spot markets on strong demand.
At the National Commodity and Derivative Exchange, mustardseed for delivery in most-active April month contract enquired higher by Rs 15, or 0.39 per cent, to Rs 3,842 per quintal, with an open interest of 37,360 lots.
Also, the delivery in May month contracts traded higher by Rs 11 or 0.28 per cent to Rs 3,893 per quintal, having an open interest of 23,760 lots.