Mustardseed futures up on increased buying

NEW DELHI: Mustardseed prices hardened by Rs 54 to Rs 3,206 per quintal in futures trade today on the back of firm spot markets sentiment.

Marketmen said restricted supply and pick up demand from vanaspati mills, mainly pushed up future price of mustardseed.

Rise in other edible oils prices too supported the uptrend in mustardseed prices, they said.

At the National Commodity and Derivatives Exchange, mustardseed prices for near September contract rose by Rs 54, or 1.71 per cent, to Rs 3,206 per quintal, having an open interest of 62,640 lots.

Most active August month gained Rs 51, or 1.63 per cent, to Rs 3,171 per quintal, with an open interest of 71,630 lots.