Mustardseed futures plummet Rs 145 per quintal

Mustardseed futures traded sharply lower by Rs 145 to Rs 4,710 per quintal in futures trading today as speculators offloaded their positions amid weak trend at the physical markets.
At the National Commodity and Derivatives Exchange counter, mustardseed for delivery in far-month January next year dipped by Rs 145 or 2.99 per cent to Rs 4,710 per quintal, in an open interest of 120 lots.
On similar lines, delivery in September was trading lower by Rs 56 or 1.20 per cent to Rs 4,602 per quintal, having an open interest of 30,130 lots, while most-active October contracts lost Rs 52 or 1.10 per cent to Rs 4,686 per quintal, with a business turnover of 51,680 open lots.

Marketmen said offloading of positions by participants, taking weak cues form the physical markets amid persistent arrivals from growing belts, weighed on the mustardseed prices at futures trade here.