Mustardseed prices rose by Rs 3.35, or 0.63 per cent, to Rs 538.20 per 20 kg in futures trading today, as speculators indulged in covering their pending positions, created in last few sessions.
Marketmen said a firming trend in spot markets forced speculators to wind up pending holdings, created at every fall in mustardseed in past few sessions.
They said demand in spot markets picked up on heavy purchases by vanaspati oil mills to meet the festival season and ensuing marriages next month.
At the National Commodity and Derivatives Exchange counter, mustardseed for September contract rose Rs 3.35, or 0.63 per cent, to Rs 538.20 per 20 kg, with an open interest of 83,530 lots.
Near-month October contract also improved by Rs 3.30, or 0.61 per cent, to Rs 545.85 per 20 kg, with an open interest of 93,420 lots.
