Mustard seed futures fall on low spot demand

Mustard seed prices fell 0.38 per cent to Rs 3,942 per quintal in futures trade Friday as speculators trimmed their positions amid subdued cues from physical markets.

At the National Commodity and Derivatives Exchange, mustard seed contracts for July declined by Rs 15, or 0.38 per cent, to Rs 3,942 per quintal with an open interest of 1,00,940 lots.

Mustard seed contracts for August delivery also traded lower by Rs 19, or 0.48 per cent, at Rs 3,974 per quintal with an open interest of 3,940 lots.

Marketmen attributed the weakness in mustard seed prices to cutting down of positions by participants amid a weak trend at the spot market