Mustard seed futures fall on low spot demand

Mustard seed prices fell 0.64 per cent to Rs 3,890 per quintal in futures trade Thursday as speculators were indulged in trimming positions amid subdued demand from the physical markets. At the National Commodity and Derivatives Exchange, mustard seed for delivery in April declined by Rs 25, or 0.64 per cent, to Rs 3,890 per quintal, having an open interest of 21,130 lots.

Similarly, mustard seed for delivery in May was also trading down by Rs 19, or 0.48 per cent, to Rs 3,930 per quintal, in an open interest of 2,220 lots. Marketmen attributed the persistent weakness in the prices to cutting down of positions by participants amid weak trend at the spot market on ample stocks.