Mustardseed rises on local demand

Fall in arrivals adds to positive sentiment, as Jan, April and July deliveries post gains

Mustardseed prices hardened by Rs 37 to Rs 3,619 per quintal in futures trading today, following a firm trend in the spot markets.

Besides, fall in arrivals and pick up in demand in physical markets mainly led the rise here in mustardseed futures prices, traders said.

At the National Commodity and Derivatives Exchange counter, castorseed prices for delivery in far-month July rose by Rs 37, 1.03 per cent to Rs 3,619 per quintal, with an open interest of 140 lots.

The most-active April contract gained Rs 27, or 0.78 per cent, to Rs 3,484 per quintal, having an open interest of 54,460 lots, while January delivery prices moved up by Rs 28, or 0.66 per cent to Rs 4,244 per quintal, clocking a business turnover of 27,200 lots.