Continuing its upward trend, mustardseed prices rose by another Rs 70 to Rs 4,258 per quintal in futures trading today as participants engaged in widening their positions amid a firm trend at the physical markets on the back of strong demand from oil mills.
Marketmen said the persistent rise in mustardseed prices at futures trade was due to a firm trend at the spot markets on pick up in demand amid fall in arrivals from growing regions on expectations of lower output.
At the National Commodity and Derivatives Exchange, mustardseed for delivery in May spurted by another Rs 70, or 1.67 per cent, to Rs 4,258 per quintal, with a business turnover of 32,010 lots.
Also, mustardseed for April flared up by Rs 62, or 1.50 per cent, to Rs 4,203 per quintal, having an open interest of 52,940 lots.
