Mustardseed futures remain up, rises by Rs 98 per quintal

Mustardseed prices rose by another Rs 98 to Rs 4,195 per quintal in futures trade today as speuclators indulged in enlarging their positions, tracking a firming trend at the spot markets.
At the National Commodity and Derivative Exchange, mustardseed for delivery in far-month July contracts shot up by Rs 98, or 2.39 per cent to Rs 4,195 per quintal, with an open interest of 2,520 lots.
Also, delivery in April month contracts was trading higher by Rs 81, or 2.05 per cent to Rs 4,040 per quintal, having an open interest of 61,360 lots.
Marketmen said speculative positions created by participants amidst strong demand from vanaspati units mainly influenced mustardseed prices at futures trade.

Moreoever, restricted arrivals due to untimely rainfalls in growing regions, gave push to rising prices, they said.