Mustard seed futures ease on low demand

Mustard seed prices on Wednesday moved down by Rs 5 to Rs 4,362 per quintal in futures trade as traders reduced their holdings coupled with a weak trend in spot market. On the National Commodity and Derivatives Exchange, mustard seed for delivery in December fell by Rs 5, or 0.11 per cent, to Rs 4,362 per quintal clocking an open interest of 24,620 lots.

Also, mustard seed for delivery in January was down by Rs 13, or 0.3 per cent, to Rs 4,391 per quintal with an open interest of 7,080 lots. Marketmen said offloading of positions by participants following a weak trend in spot market due to easing demand led to fall in mustard seed prices in futures trade.