Mustard seed futures fall on low spot demand

Mustard seed prices fell 0.13 per cent to Rs 3879 per quintal in futures trade Tuesday as speculators indulged in trimming positions amid subdued cues from the physical markets. At the National Commodity and Derivatives Exchange, mustard seed prices for June contracts declined by Rs 5, or 0.13 per cent, to Rs 3879 per quintal with an open interest of 14180 lots.

Mustard seeds for August contracts were also trading down by Rs 9, or 0.23 per cent, at Rs 3926 per quintal with an open interest of 5,220 lots. Marketmen attributed the persistent weakness in the prices to cutting down of positions by participants amid a weak trend at the spot markets on ample stocks.