Mustardseed prices plunge on higher levels

Mustardseed prices tumbled down by Rs 66 to Rs 4,284 per quintal in futures trading today in the pressure of all round selling by operators on existing levels, influenced by weak physical market sentiments.
Marketmen said heavy liquidation on prevailing levels forced by weak spot markets following reports of good standing crops in growing regions mainly led to the fall in prices here in futures trading.
Besides, shrunk in demand for oil mills at higher levels also dampened trading sentiments, they quoted.
At the National Commodity and Derivatives Exchange, mustardseed delivery for January slipped by Rs 66, or 1.52 per cent, to Rs 4,284 per quintal, with an open interest of 25,150 lots.

The delivery for February was also down by Rs 54, or 1.36 per cent, to Rs 3,917 per quintal, in an open interest of 14,170 lots.