Mustard seed futures gain on spot demand

Mustard seed prices rose by Rs 39 to Rs 3,930 per quintal in futures trade on Friday as traders raised their holdings amid rise in demand at the spot market.

On the National Commodity and Derivatives Exchange, mustard seed for September delivery rose by Rs 39, or 1 per cent, to Rs 3,930 per quintal clocking an open interest of 450 lots.

However, mustard seed for November delivery dipped by Rs 3, or 0.08 per cent, to Rs 3,939 per quintal with an open interest of 54,960 lots.

Marketmen said building up of fresh positions by participants due to limited supply mainly led to rise in mustard seed prices