Mustard seed futures decline on ample stocks

Mustard seed prices softened by 0.52 percent to Rs 4,197 per quintal in futures trade today as traders trimmed their positions in tune with weak physical markets lead.

Marketmen said traders indulged in off-loading of their holdings following pessimistic spot markets trend, marked the downfall in mustard seed futures prices.

In the spot markets, easing demand from oil mills along with mounting of stocks on endless arrivals from growing belts, kept mustard prices to trade lower, they added.

At the National Commodity and Derivatives Exchange, mustard seed for October slackened by Rs 22, or 0.52 percent, to Rs 4,197 per quintal, with an open interest of 25,230 lots.

Meanwhile, delivery for September fell by Rs 20, or 0.48 percent, to Rs 4,133 per quintal, clocking an open interest of 1,06,250 lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)