Mustardseed futures up on short covering
Mustardseed prices rose Rs 5.40, or 0.97 per cent, to Rs 559.50 per 20 kg in futures trade today on emergence of buying at lower levels.
Marketmen said, covering up by traders at lower levels, mainly brought the rise in mustardseed prices.
Better offtake by mustard oil and vanaspati mills also helped in improving the trading sentiment to some extent, they added.
At the National Commodity and Derivatives Exchange counter, mustardseed prices for December-month contract rose by Rs 5.40, or 0.97 per cent, to Rs 559.50 per 20 kg, with an open interest of 4,700 lots.
September contract also improved by Rs 2.90, or 0.54 per cent, to Rs 541.30 per 20 kg, with an open interest of 1,23,020 lots.