Mustardseed futures eases on profit taking

Mustardseed prices declined by Rs 4.45, or 0.78 per cent, to Rs 562.90 per 20 kg in futures market today on profit booking by speculators, driven by weak spot markets sentiment.

Increased supply from growing regions coupled with fall in demand from oil mills at higher levels in physical markets, mainly attributed to the fall in futures prices of mustardseed.

At the National Commodity and Derivatives Exchange platform, mustardseed prices for December contract moved down by Rs 4.45, or 0.78 per cent, to Rs 562.90 per 20 kg, with an open interest of 14,260 lots.   

Most-active October contract also came down by Rs 3.65, or 0.69 per cent, to Rs 551.70 per 20 kg, with an open interest of 1,18,150 lots.