Mustardseed futures up on speculative buying

NEW DELHI: Mustardseed prices rose by Rs 6.40 to Rs 578.90 per 20 kg in futures trading today on speculative buying in line with firm spot markets cue.

Marketmen said strong demand in physical markets due to 'Depawali' festivals coupled with restricted supply, encouraged traders here in futures market.

Heavy buying by vanaspati units and oil mills too helped the uptrend, they added.

At the National Commodity and Derivatives Exchange counter, mustardseed prices for January contract climbed up by Rs 6.40, or 1.12 per cent, to Rs 578.90 per 20 kg, with an open interest of 30,450 lots.

Current November month contract also followed suit and rose by Rs 5.45, or 0.97 per cent, to Rs 565.25 per 20 kg, with an open interest of 1,25,540 lots.