Mustardseed futures eases on selling pressure

Mustardseed futures ices fell by Rs 1.30, or 0.24 per cent, to Rs 530.10 per 20 kg on fresh selling by speculators, triggered by a weak trend in spot markets.

Marketmen said slack demand from oil making industries along with increased supply in physical markets, mainly influenced the trading sentiment here in futures prices of mustardseed.

At the National Commodity and Derivatives Exchange, the delivery for September contract traded lower by Rs 1.30, or 0.24 per cent, to Rs 530.10 per 20 kg, with an open interest of 95,140 lots.

Current July contract also moved down by Rs 0.95, or 0.18 per cent, to Rs 523.20 per 20 kg, with an open interest of 61,160 lots.