Mustardseed price rose by Rs 50 to Rs 4,244 per quintal in futures trade today tracking firm global cues and strong demand in the local markets for the festive seasons.
Higher millers demand in local mandies for upcoming festive seasons against lower stocks positions mainly pulled down the prices in domestic as well as futures trade, marketmen said.
They said brisk demand from vanaspati and other edible oil mills also influenced trading sentiments.
At the National Commodity and Derivatives Exchange, the Januray contract for mustardseed climbed up by Rs 50, or 1.19%, to Rs 4,244 per quintal, with an open interest of 9,220 lots.
The November contract gained Rs 35, or 0.85%, to Rs 4,176 per quintal, with an open interest of 78,300 lots.
Mustardseed futures for October delivery gained by Rs 26, or 0.63%, to Rs 4,132 per quintal, with an open interest of 8,500 lots.