Mustard seed prices on Thursday dropped by Rs 57 to Rs 4,133 per quintal in futures trade as speculators cut down their positions on weak demand at the spot market.
On the National Commodity and Derivatives Exchange, mustard seed contracts for February delivery fell by Rs 57, or 1.36 per cent, to Rs 4,133 per quintal in a business turnover of 12,240 lots.
Mustard seed contracts for April delivery also declined by Rs 48, or 1.15 per cent, to Rs 4,143 per quintal in a business turnover of 12,460 lots.
Marketmen said offloading of positions by participants following a weak trend in spot market mainly led to fall in mustard seed prices.
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