Mustardseed futures remain firm

Mustardseed prices were higher by Rs 107 to Rs 4,625 per quintal in futures trading today as speculators widened their bets, driven by a firm trend at the spot market.

At the National Commodity and Derivative Exchange, mustardseed delivery for far-month August contracts climbed Rs 107, or 2.37 per cent to Rs 4,265 per quintal, with an open interest of 80 lots.

Also, the most-active May month contracts gained Rs 17 or 0.38 per cent to Rs 4,448 per quintal, having an open interest of 64,020 lots.

Marketmen said a firm trend in the spot markets following strong demand amidst lower production, mainly influenced mustarseed prices at futures trade here.