Mustard seed futures decline on subdued spot demand

Mustard seed prices softened by Rs 121 to Rs 3,978 per quintal in futures trade today as traders trimmed their holdings dampened by muted physical market demand.

Marketmen attributed the downslide in mustard seed futures prices to sluggish demand from oil mills amid mounting of stocks on relentless supplies from growing areas in the spot markets.

At the National Commodity and Derivative Exchange, mustard seed for September declined by Rs 12, or 0.30 percent, to Rs 3,978 per quintal, clocking an open interest of 62,870 lots.

Meanwhile, the delivery for October shed Rs 6, or 0.15 percent, to Rs 4,064 per quintal, depicting an open interest of 40,140 lots.

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