Mustardseed futures fall on weak spot market cues

NEW DELHI: Mustardseed prices fell by Rs 23 to Rs 2,920 per quintal in futures trading today as traders reduced their positions, driven by a weak trend at the spot market on subdued demand.

Increased arrivals from producing regions in the physical market further fuelled the downtrend.

At the National Commodity and Derivatives Exchange, mustardseed prices for delivery in July fell by Rs 23, or 0.78 per cent, to Rs 2,920 per quintal, with an open interest of 1,79,640 lots.

Mustardseed for delivery in June also moved down by Rs 22, or 0.76 per cent, to Rs 2,877 per quintal, with a business turnover of 1,14,540 lots.

Market analysts said increased supply in the physical market against subdued demand mainly led to the fall in mustardseed futures prices.