Mustardseed futures plunge Rs 54 per quintal

Mustardseed prices tumbled by Rs 54 to Rs 4,205 per quintal in futures trading today as participants indulged in offloading their positions at prevailing levels to book profits.
Marketmen said besides weakness in spot markets following increased arrivals, emergence of profit-booking at higher levels mainly led to decline in mustardseed prices in futures trade.
Besides, estimates of good crops in Rajasthan, Haryana, Gujrat also weighed on prices, they added.
At the National Commodity and Derivative Exchange, (NCDEX), mustardseed for delivery in January month was trading lower by Rs 54 or 1.27 per cent to Rs 4,205 per quintal, having an open interest of 11,950 lots.

Similarly, mustardseed for delivery in February month slipped by Rs 20 or 0.52 per cent to Rs 3,852 per quintal, depicting an open interest of 21,110 lots.