Mustardseed futures rebound on spot demand

Mustardseed prices recouped by Rs 22 to Rs 3,941 per quintal in futures trading today as participants created fresh positions driven by a firming trend at the physical markets on pick-up in demand at existing levels.
The recovery in mustardseed prices in futures trade was mostly attributed to building up of fresh positions, triggered by a firm trend at the spot markets on the back of increased demand at the prevailing levels, analysts said.
At the National Commodity and Derivative Exchange, mustardseed for delivery in April month contracts bounced by Rs 22, or 0.56 per cent, to Rs 3,941 per quintal, clocking an open interest of 30,540 lots.

Mustardseed for delivery in far-month May contracts too was trading higher by Rs 21, or 0.53 per cent, to Rs 3,991 per quintal, with the business turnover of 31,320 open lots.