Mustardseed futures slip as participants trim position

Mustardseed prices dropped by Rs 43 to Rs 4,551 per quintal in futures trading today as traders cut down their bets, triggered by a weak trend in the spot markets on low demand.
Marketmen said trimming of positions by participants in tandem with a weak trend at the spot markets, mainly attributed fall in mustardseed prices.
Besides, increased supplies from growing regions weighed on prices, they added.
At the National Commodity and Derivatives Exchange, mustardseed for delivery this month fell by Rs 43, or 0.94 per cent, to Rs 4,551 per quintal, with an open interest of 8,080 lots.
In a similar fashion, mustardseed for delivery in January 2017 lost Rs 38, or 0.85 per cent, to Rs 4.417 per quintal, and an open interest stood at 36,899 lots.