Mustardseed rises in futures trade as traders create position

Mustardseed prices advanced by Rs 46 to Rs 4,203 per quintal in futures trading today as speculators were seen creating large positions, driven by a firming trend at the spot markets.
Marketmen said the rise in mustardseed prices at futures trade was mostly supported by building up of large positions by participants amid a firm trend at the spot market on strong demand from oil mills.
Besides, restricted supplies from growing regions too supported the upside, they said.
At the National Commodity and Derivatives Exchange, mustardseed delivery for April moved up by Rs 46, or 1.11 per cent to Rs 4,203 per quintal, with an open interest of 38,020 lots.

Similarly, most-active delivery in May gained Rs 41, or 0.98 per cent to Rs 4,243 per quintal, having an open interest of 39,800 lots.