Mustard seed futures remain up on upbeat cues

Mustard seed prices rose further by Rs 40 to Rs 3,887 per quintal in futures trading today as participants continued to enlarge their positions, tracking firm physical markets.

At the National Commodity and Derivative Exchange, mustard seed for delivery in October contracts spurted by Rs 40 to Rs 1.04 per cent to Rs 3,887 per quintal, with the business turnover of 14,430 lots.

Likewise the delivery for the most-traded September contract, was up by Rs 36 or 0.95 per cent to Rs 3,838 per quintal, open interest stood at 59,610 lots.

Market players said strong demand from oil mills ahead of festive season coupled with restricted arrivals from growing regions, largely influenced the mustard seed prices at futures market.