Mustard seed prices drifted lower by Rs 24 to Rs 3,875 per quintal in futures trade today on cutting down of bets by speculators amid prospects of higher crop production.
Marketmen said reports of good mustard crop production mainly weighed on the prices of castor seed futures as participants indulged in trimming positions.
At the National Commodity and Derivative Exchange, mustard seed to be delivered in January declined by Rs 24 or 0.62 per cent to Rs 3,875 per quintal, with an open interest of 28,980 lots.
Likewise, the delivery for the most-active February fell by Rs 22 or 0.53 per cent to Rs 4,096 per quintal, clocking an open interest of 34,640 lots.
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