Mustardseed futures up on increased buying

Mustardseed prices hardened by Rs 6.20 to Rs 573.50 per 20 kg in futures trading, as speculators enlarged their positions on the back of low supply and better demand in physical markets. 

Marketmen said, pick up in demand and fall in supply at spot markets, led to a rise in futures prices of mustardseed.

Better offtake by mustard oil and other edible oil making industries too influenced trading sentiment to some extent, they added.

At the National Commodity and Derivaties Exchange counter, mustardseed prices for January-month delivery contract rose by Rs 6.20 or 1.09 per cent to Rs 573.50 per 20 kg, with an open interest of 1,04,550 lots. 

Current December-month contract also followed and gained by Rs 5.40 or 0.97 per cent to Rs 562.50 per 20 kg, with an open interest of 65,700 lots.