Mustard seed futures drop by Rs 25 per quintal

Mustard seed prices sank by Rs 25 to Rs 3,672 per quintal in futures trading today as participants offloaded their bets, tracking a weak trend at the domestic spot markets.

Market players said trimming of bets by participants following a weak trend at the spot markets on sluggish demand, mainly attributed fall in mustard seed prices in futures market.

At the National Commodity and Derivative Exchange, mustard seed delivery in current month slipped by Rs 25 or 0.68 per cent to Rs 3,672 per quintal, with an open interest of 37,020 lots.

Also, delivery in June contracts was trading lower by Rs 23 or 0.61 per cent to Rs 3,728 per quintal, depicting an open interest of 47,800 lots.