Mustard seed prices rise by 1.27 pct on futures trade on high demand

Mustard seed prices rose by 1.27 per cent to Rs 3,913 per quintal in futures trade Monday on accumulation of positions by traders amid higher physical sentiments. Marketmen attributed the uptick in mustard seed prices to pick up in demand from oil mills amid tight arrivals from producing belts in physical markets.

At the National Commodity and Derivatives Exchange, mustard seed contracts for June rose by Rs 49, or 1.27 per cent, to Rs 3,913 per quintal with an open interest of 1,02,140 lots. Mustard seed for July delivery also rose by Rs 44, or 1.13 per cent, to Rs 3,952 per quintal in 8,370 lots.