Mustard seed futures rise 0.51% on firm spot cues

Mustard seed prices spurted by Rs 21 to Rs 34,147 per quintal in futures trade as investors raised bets in line with higher physical markets.

Marketmen said tracking upbeat spot market leads, where the commodity was in keen demand on the back of pause in supplies amid better demand for oil mills, enthused traders to go for long positions, consequently prices of mustard seed futures went up.

At the National Commodity and Derivatives Exchange platform, mustard seed delivery of August contract improved by Rs 21, or 0.51 per cent, to Rs 4,147 per quintal showing an open interest of 1,07,070 lots.

Also, the delivery of the September contract edged up by Rs 18, or 0.43 per cent, to Rs 4,193 per quintal having an open interest of 45,840 lots.