Mustardseed futures fall on profit-booking

Mustardseed futures prices declined by Rs 35 to Rs 3,116 per quintal today, following profit-taking by traders, driven by weak spot market cues.

Marketmen said apart from profit selling, increased supply and reduced offtake in physical markets, mainly influenced the trading sentiment here in futures markets.

At the National Commodity and Derivatives Exchange, the May contract dropped by Rs 35, or 1.11%, to Rs 3,116 per quintal, with an open interest of 1,940 lots.

The most active January contract also slipped by Rs 17, or 0.52%, to Rs 3,222 per quintal, showing an open interest of 65,240 lots.