Mustardseed futures recover on bargain buying

Mustardseed prices were higher by Rs 17 to Rs 3,819 per quintal in futures trade today after speculators created positions at prevailing lower levels amid a firm trend at the physical markets.
Marketmen said building up of positions at existing levels by participants coupled with a firm trend at the physical markets on the back of pick up in demand and tight supplies from producing regions, mainly supported the recovery in mustardseed prices at futures trade here.
At the National Commodity and Derivative Exchange, mustardseed for delivery in April month contracts was trading higher by Rs 17 or 0.45 per cent to Rs 3,819 per quintal, in an open interest of 38,600 lots.

Mustardseed for delivery in may also trading in green by rising Rs 15 or 0.39 per cent to Rs 3,875 per quintal, having an open interest of 23,980 lots.