Mustardseed up 1.5% on low output

Mustardseed prices spurted by Rs 54 to Rs 3,735 per quintal in futures trading today on speculative buying on the back of low production estimates.

Marketmen said reports of damage in crops this year, sparked by speculative buying by traders, mainly led to the rise in mustardseed prices.

At the National Commodity and Derivatives Exchange, mustardseed for April jumped up by Rs 54, or 1.47%, to Rs 3,735 per quintal, with an open interest of 2,53,330 lots.

The May contract gained Rs 52, or 1.39%, to Rs 3,786 per quintal, with an open interest of 1,76,290 lots.