Mustardseed futures weaken on profit-booking

Mustardseed prices declined by Rs 8.90 to Rs 587.10 per 20 kg in future trade today owing to profit-taking by traders at prevailing higher levels.

Marketmen said fall in demand due to nearing end of festive season along with profit booking at higher levels, mainly pulled down the trading sentiments.

Poor demand from oil-making industries also weighed heavy on the prices, they added. 

At the National Commodity and Derivatives platform, mustardseed price for near December month contract fell by Rs 8.90, or 1.49 per cent to Rs 587.10 per 20 kg, with an open interest of 1,48,960 lots.

The November month contract too moved down in line with other contracts by Rs 8.30, or 1.42 per cent to Rs 576 per 20 kg, with an open interest of 78,090 lots.