Mustardseed futures up on increased buying support

Mustardseed futures prices hardened by Rs 14 to Rs 2,924 per 100 kg today due to speculative buying support by traders in line with high spot markets sentiments.

Market analysts said pick up in demand from edible oil making industries against restricted supply in spot markets mainly brought down the rise in futures trade.

At the National Commodity and Derivatives Exchange platform, mustardseed prices for delivery in April rose by Rs 14, or 0.48 per cent, to Rs 2,924 per 100 kg, clocking an open interest of 53,570 lots.

Prices for May delivery also moved up by Rs 9, or 0.30 per cent, to Rs 2,965 per 100 kg, clocking an open interest of 41,150 lots.