Mustardseed futures eases on selling pressure

Mustardseed futures prices declined by Rs 16 to Rs 2,976 per quintal in futures market today on profit booking by traders following weak spot market sentiment.

Market analysts said besides profit booking by traders, increased arrivals against fall in demand from vanaspati units on higher levels, pulled down the prices.

At the National Commodity and Derivatives Exchange counter, mustardseed for delivery in June at Jaipur moved down by Rs 16 or 0.53 per cent, to Rs 2,976 per quintal, with an open interest of 3,620 lots.

Most active April-month delivery contract shedded Rs 11 or 0.38 per cent, to Rs 2,908 per quintal, with an open interest of 33,660 lots.