Mustardseed futures prices recovered by Rs 2.85, or 0.55 per cent, to Rs 525.05 per 20 kg today on speculators buying to cover their pending positions, driven by a firming trend in physical markets.
Marketmen said fresh demand from oil making industries along with restricted supply in physical markets, brought a rise in prices. Short covering by traders after yesterday's sell off was another reason behind price rise, they added.
At the National Commodity and Derivatives Exchange counter, current July-month contract recovered by Rs 2.85, or 0.55 per cent, to Rs 525.05 per 20 kg, with a business volume of 56,900 lots.
Most-active August-month contract regained by Rs 2.90, or 0.55 per cent, to Rs 532 per 20 kg, with an open interest of 96,710 lots.
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