Mustard seed futures fall on weak demand

Mustard seed prices on Friday dropped by Rs 23 to Rs 4,004 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 23, or 0.57 per cent, to Rs 4,004 per quintal in a business turnover of 8,180 lots.

Mustard seed contracts for April delivery also declined by Rs 6, or 0.15 per cent, to Rs 4,064 per quintal in a business turnover of 16,350 lots.

Marketmen said offloading of positions by participants following a weak trend in spot market mainly led to fall in mustard seed prices. PTI