Mustardseed prices up Rs 14 at futures trade

Amid tight supplies and pick up in demand at the physical markets at prevailing levels, mustardseed prices were up by Rs 14 per quintal at the futures trading today as participants enlarged positions.
Moreover, covering up of short positions by speculators too supported the upmove.
At the National Commodity and Derivatives Exchange, mustardseed for delivery in most-active September rose by Rs 14, or 0.31 per cent, to Rs 4,551 per quintal, in an open interest of 57,840 lots.
Likewise, mustardseed for delivery in far-month October was trading higher by Rs 10, or 0.22 per cent, to Rs 42,330 lots.
Marketmen attributed rise in mustardseed prices at futures trade to widening of positions by participants at existing levels amid a firm trend at the spot markets on tight supplies and rising demand.