Mustard seed futures slip 1.08 per cent on weak cues

Mustard seed prices on Thursday moved down by Rs 49 to Rs 4,497 per quintal in futures trade as traders reduced their holdings coupled with a weak trend in spot market.

On the National Commodity and Derivatives Exchange, mustard seed for delivery in December fell by Rs 49, or 1.08 per cent, to Rs 4,497 per quintal clocking an open interest of 30 lots.

Also, mustard seed for delivery in January was down by Rs 6, or 0.13 per cent, to Rs 4,555 per quintal with an open interest of 19,250 lots.

Marketmen said offloading of positions by participants following a weak trend in spot market due to easing demand led to fall in mustard seed prices here.