Mustard seed futures spurt on firm spot market

Mustard seed prices were higher by Rs 49 to Rs 4,205 per quintal in futures trade today largley on the back of raising of bets amid a firm trend at the physical markets.
According to marketmen, a firm trend at the spot markets on pick up in demand from oil mills against tight supplies, mainly influenced mustardseed prices at futures trade here.
At the National Commodity and Derivative Exchange, mustard seed for delivery in far-month May, flared up by Rs 49 or 1.18 per cent to Rs 4,205 per quintal, with an open interest of 4,020 lots.
In a similar fashsion, the most-traded delivery in April shot up by Rs 44 or 1.07 per cent to Rs 4,165 per quintal, having an open interest of 35,820 lots.