Mustardseed futures drift lower by Rs 82 per quintal

Mustardseed prices were down Rs 82 at Rs 4,549 per quintal in future trade today as traders were shrinking positions in line with weak physical markets sentiment.
Marketmen said fresh selling by participants in tandem with weak spot markets where prices remained under pressure due to steady arrivals from growing belts amid waning of demand from oil mills.
Besides, downfall in other edible oils too weighed on mustardseed prices, they added.
At the National Commodity and Derivative Exchange, mustardseed delivery for first contract for September dropped by Rs 82 or 1.77 per cent to Rs 4,549 per quintal, clocking an open interest of 58,970 lots.

Similarly, second contract for October delivery lost Rs 76 or 1.61 per cent to Rs 4,633 per quintal with business turnover of 43,980 open lots.