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Mustard seed futures down on profit-booking

Mustard seed prices receded by Rs 43 to Rs 3,788 per quintal in futures trade today as participants preferred to book profits at current levels coupled with a weak trend at the physical markets.

Market players said apart from profit-booking by speculators, a subdued trend at the physical markets on increased supplies from growing belts against tepid demand from oil mills, led to the fall in mustard seed prices at futures trade here.

At the National Commodity and Derivatives Exchange, mustard seed for May contracts was quoting down by Rs 43 or 1.12 per cent to Rs 3,788 per quintal, with an open interest of 1,02,750 lots.

Similarly, June contracts fell by Rs 40 or 1.03 per cent to Rs 3,825 per quintal, having an open interest of 55,300 lots.