Mustard seed prices drifted lower by Rs 48 to Rs 3,971 per quintal in futures trade today after participants reduced bets, tracking a weak trend at the spot markets due to muted demand.
Market players said cutting down of bets by participants, tracking a weak trend at the spot markets due to low demand amid ample stocks on persistent arrivals from growing areas, mainly pulled down prices of mustard seed at futures market here.
At the National Commodity and Derivatives Exchange counter, mustard seed for delivery in June dipped Rs 48 or 1.19 per cent to Rs 3,971 per quintal, clocking an open interest of 97,760 lots.
In a similar fashion, the delivery for July also dropped by Rs 45 or 1.11 per cent to Rs 4,015 per quintal, open interest stood at 67,710 lots.
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