Mustardseed up on fresh buying

Mustardseed prices strengthened by Rs 38 to Rs 3,649 per quintal in futures trading today following increased buying, driven by firm spot markets sentiment.

Marketmen said restricted supply and rising demand in physical markets mainly led to the rise in prices.

Rising prices of other edible oils, shifted demand for mustardseed and aided the trading sentiments to some extent, they said.

At the National Commodity and Derivatives Exchange, the April delivery shot up by Rs 38, or 1.05%, to Rs 3,649 per quintal, with an open interest of 2,45,090 lots.

The May mustardseed too rose by Rs 32, or 0.87%, to Rs 3,695 per quintal, with an open interest of 1,74,020 lots.