Mustardseed futures down on profit booking

Mustardseed futures prices weakened by Rs 12 to Rs 2,941 per 100 kg today, as traders booked profits driven by lower spot market sentiments.

Market analysts said better supply coupled with sluggish demand from vanaspati units at higher levels, led the down fall here in future prices of mustardseed.

At the National Commodity and Derivatives Exchange counter, mustardseed prices for delivery in April slipped by Rs 12, or 0.41 per cent, to Rs 2,941 per 100 kg, with an open interest of 56,780 lots.

Prices for delivery in May also declined by Rs 13, or 0.43 per cent, to Rs 2.981 per 100 kg, clocking an open interest of 46,400 lots.