Mustardseed futures slide on subdued spot demand

Mustard seed prices looked down by Rs 16 to Rs 3,996 per quintal in futures trading today owing to offloading of bets by traders, guided by sluggish demand in physical markets.
Market players said the fall in mustardseed prices at futures trading was mostly due to a weak trend at the physical markets on reduced demand from oil mills, sparked by weakness in other alternates of mustard seed and constant supplies from growing regions.
At the National Commodity and Derivative Exchange, mustardseed for delivery in far-month May contracts was trading lower by Rs 16 or 0.40 per cent to Rs 3,996 per quintal, clocking an open interest of 32,890 lots.

Mustardseed for delivery in most-active April contracts too weakened by Rs 13 or 0.33 per cent to Rs 3,942 per quintal, having an open interest of 33,740 lots.