Mustard seed prices drifted lower by Rs 23 to Rs 4,092 per quintal in futures trade after participants reduced their holdings in line with a weak trend at physical markets.
Marketmen said off-loading of positions by participants, driven by a weak trend at spot markets due to fading demand from oil mills amid heavy stocks position pulled down mustard seed prices.
Besides, slackness in demand for mustard cake from cattle-feed makers weighed on mustard seed futures, they added.
At the National Commodity and Derivatives Exchange, mustard seed for November fell by Rs 23, or 0.56 per cent, to Rs 4,092 per quintal with an open interest of 72,490 lots.
Mustard seed for the delivery in December receded by Rs 22, or 0.52 per cent, to Rs 4,175 per quintal.
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