Mustard seed futures fall, tracking weak spot market

Mustard seed prices came down by Rs 28 to Rs 3,734 per quintal in futures trade today after operators cut down their positions, taking weak cues from the physical markets.

Marketmen said the fall in mustard seed prices in futures trade was attributed to a weak trend at the domestic spot markets on persistent supplies from producing areas amid reduced offtake by oil mills.

At the National Commodity and Derivatives Exchange, mustard seed for delivery in June slumped by Rs 28, or 0.74 per cent, to Rs 3,734 per quintal, in an open interest of 62,540 lots.

The delivery for May also fell by Rs 25, or 0.67 per cent, to Rs 3,684 per quintal, with a business turnover of 17,640 open lots.