Mustard seed futures up on aggressive buying

Mustard seed prices showed a positive trend in futures market today on the back of low supply and brisk buying in spot markets.

Marketmen said reduced arrivals, against heavy demand from vanaspati units and mustard oil consuming states, encouraged traders to create fresh positions in futures market.

At the National Commodity and Derivatives Exchange, mustard seed prices for August-month contract rose by Rs 4.70, or 0.86 per cent, to Rs 482.20 per 20 kg, with an open interest of 1,22,130 lots.

September contract also improved by Rs 4.75, or 0.87 per cent, to Rs 553.85 per 20 kg, with an open interest of 55,270 lots.