Mustard seed futures fall on hopes of good crop in growing regions

NEW DELHI: Mustard seed prices were down by Rs 38 to Rs 4,200 per quintal in futures trading today as speculators reduced their exposures amidst reports of good crop in growing regions.

Marketmen said trimming of positions by speculators triggered by reports of good crop from growing areas like Rajasthan, Haryana and Gujarat due to favourable weather mainly put pressure on mustard seed prices at futures trade.

At the National Commodity and Derivative Exchange ( NCDEX), mustard seed prices for delivery this month declined by Rs 38, or 0.90 per cent to Rs 4,200 per quintal, clocking an open interest of 18,290 lots.

On similar lines, mustard seed for April month delivery was down by Rs 15, or 0.42 per cent to Rs 3,547 per quintal, depicting an open interest of 34,870 lots