Mustard seed climbs 3% on rising spot demand
Participants widen positions as restricted arrivals fuel uptrend
 "Mustard seed climbs 3% on rising spot demand")
Mustard seed prices advanced Rs 140 to Rs 4,792 per quintal in futures trading today after participants widened positions on pick up in spot demand amid restricted arrivals.
Market analysts attributed rise in mustard seed prices to spurt in demand from oil and vanaspati mills, driven by ongoing festive and wedding season.
Besides, restricted arrivals from growing regions influenced prices, they added.
Also, the commodity for delivery in October contracts shot up by Rs 120, or 2.64 per cent, to Rs 4,669 per quintal in an open interest of 50,880 lots.
Market analysts attributed rise in mustard seed prices to spurt in demand from oil and vanaspati mills, driven by ongoing festive and wedding season.
Besides, restricted arrivals from growing regions influenced prices, they added.
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At the National Commodity and Derivatives Exchange, mustard seed for delivery in November contracts was trading higher by Rs 140, or 3.01 per cent, to Rs 4,792 per quintal, clocking an open interest of 5,60,880 lots.
Also, the commodity for delivery in October contracts shot up by Rs 120, or 2.64 per cent, to Rs 4,669 per quintal in an open interest of 50,880 lots.