Mustardseed futures fall on good crop report

NEW DELHI: Mustardseed prices fell by Rs 57 to Rs 3,539 per quintal in futures trading today as speculators reduced their holdings amidst reports of good crop.

At the National Commodity and Derivatives Exchange, mustardseed for delivery in May plunged by Rs 57, or 1.59 per cent, to Rs 3,539 per quintal, in an open interest of 3,150 lots.

Also, April contracts dipped by Rs 37, or 1.05 per cent, to Rs 3,503 per quintal, with an open interest of 30,120 lots, while January contracts dropped by Rs 32, or 0.73 per cent, to Rs 4,326 per quintal, clocking an open interest of 21,450 lots.

Marketmen attributed fall in msutardseed prices at futures trade to offloading of positions by speculators, triggered by reports of good crop in growing regions like Rajasthan, Gujrat and Haryana.