Mustard seed futures fall on low spot demand

Mustard seed prices fell by 0.60 per cent to Rs 4,108 per quintal in futures trade Tuesday as speculators were indulged in trimming positions amid subdued cues from the physical markets.

At the National Commodity and Derivatives Exchange, mustard seed for December declined by Rs 25, or 0.60 per cent,, to Rs 4,108 per quintal, having an open interest of 43,010 lots.

Mustard seed for January, next year, was also trading down by Rs 18, or 0.43 per cent, to Rs 4,143 per quintal, in an open interest of 6,550 lots.

Marketmen attributed the persistent weakness in the prices to cutting down of positions by participants amid weak trend at the spot markets on ample stocks.