Mustard seed futures edge lower on subdued demand

Mustard seed prices on Friday dropped by Rs 27 to Rs 4,114 per quintal in futures trade as speculators cut down their positions on subdued demand. On the National Commodity and Derivatives Exchange, mustard seed contracts for February delivery fell by Rs 27, or 0.65 percent, to Rs 4,114 per quintal in a business turnover of 13,660 lots.

Mustard seed contracts for April delivery also declined by Rs 22, or 0.53 percent, to Rs 4,141 per quintal in a business turnover of 13,350 lots. Marketmen said offloading of positions by participants following a weak trend in the spot market mainly led to a fall in mustard seed prices.