Mustardseed futures up on firm spot demand

Mustardseed futures prices strengthened by Rs 32 to Rs 3.071 per quintal today following pick up in demand in physical markets.

Market analysts said, increased offtake by mustard oil and other edible oil consuming units against short supply from growing regions, attributed a rise in mustardseed future prices. 

At the National Commodity and Derivatives Exchange, mustardseed prices for delivery in June rose by Rs 32, or 1.05 per cent, to Rs 3.071 per 100 kg, with an open interest of 5,090 lots.

Prices for delivery in May also rose by Rs 31, or 1.03 per cent, to Rs 3,032 per 100 kg, clocking an open interest of 57,600 lots.

Most active month April contract gained by Rs 29, or 0.98 per cent, to Rs 2,985 per 100 kg, with an open interest of 61,230 lots.