Mustardseed down 1.4% on weak spot cues

Marketmen said increased arrivals and reduced offtake by oil mills in physical markets put pressure on traders to minimise holdings

Mustardseed prices fell by Rs 49 to Rs 3,562 per quintal in the futures trade today owing to increased selling, guided by weak spot markets sentiment.

Marketmen said increased arrivals and reduced offtake by oils mills in physical markets mainly put pressure on traders to minimise holdings.

Weakness in other edible oils also dampened the trading sentiments, they said.

At he National Commodity and Derivatives Exchange, mustardseed  for November contract fell by Rs 49, or 1.36% to Rs 3,562 per quintal in open interest of 21,160 lots.

Near October contract slipped by Rs 48, or 1.34% to Rs 3,524 per quintal, having an open interest of 45,550 lots.
 
Current September contract dropped by Rs 45, or 1.28% to Rs 3,480 per quinta, clocking an open interest of 23,420 lots.