Mustard seed futures rise on positive physical leads

Mustard seed prices went up by Rs 23 to Rs 4,162 per quintal in futures trade today following optimistic purchasing by speculators on the back of strong spot market leads.

Market players said operators were raised holdings in line with positive physical markets leads, which reflected up movements in the mustard seed futures prices.

In the spot market, mustard seed prices remained in demand due to fall in arrivals from producing areas coupled with sturdy buying by oil mills, they quoted.

At the National Commodity and Derivatives Exchange, mustard seed delivery for August moved up by Rs 23, or 0.56 per cent, to Rs 4,162 per quintal, with the business turnover of 1,37,110 open lots.

Likewise, the delivery for July looked up by Rs 18, or 0.44 per cent, to Rs 4,110 per quintal, in an open interest of 8,850 lots.