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Mustardseed extended losses with prices falling by another Rs 32 to Rs 3,499 per quintal in futures trade today as speculators engaged in reducing positions, tracking a weak trend in spot markets due to subdued demand.
Marketmen said besides increased supplies in the spot markets, slackness in demand from oil mills, mainly weighed on prices for the second straight day.
At the National Commodity and Derivatives Exchange, mustardseed price for September month contracts dropped further by Rs.32, or 0.91% to Rs.3,499 per quintal, in an open interest of 36,540 lots.
Similarly, delivery in far-month October contracts fell by Rs.27, or 0.76% to Rs.3,527 per quintal, having an open interest of 42,100 lots.
