Mustard seed futures rise further on spot demand

Mustard seed futures remained in demand for the second straight day today rising by Rs 24 to Rs 3,959 per quintal as traders built long positions on the back of robust demand in the physical market.

According to market players, brisk demand for oil mills amid low stocks position on tight arrivals from growing regions in spot markets boosted trading sentiments in mustard seed futures prices.

At the National Commodity and Derivatives Exchange, mustard seed delivery for June contracts spurted by Rs 24, or 0.61 per cent, to Rs 3,959 per quintal with an open interest of 24,730 lots.

Likewise, the delivery of the most active May contract advanced by Rs 21, or 0.54 per cent, to Rs 3,917 per quintal in an open interest of 1,22,050 lots.