Mustard seed slides in futures trade, falls Rs 70/quintal

Mustard seed futures traded Rs 70 lower at Rs 4,645 per quintal today as participants indulged in reducing their positions, tracking a weak trend at the spot markets.

Marketmen said a weak trend at spot markets due to muted demand amid increased supplies, weighed on sentiments.

At the National Commodity and Derivative Exchange, mustard seed for delivery in far-month January next year contracts was trading lower by Rs 70, or 1.48 per cent, to Rs 4,645 per quintal, having an open interest of 550 lots.

In a similar manner, the most-active delivery in October month slipped by Rs 16 or 0.35 per cent, to Rs 4,586 per quintal, in an open interest of 43,540 lots.