Mustard seed futures increased

Mustard seed prices traded higher by Rs 24 to Rs 3,900 per quintal in futures trade today after raising of holdings by participants buoyed up physical market cues.

Market players said, optimistic buying by traders in view of rising prices at spot markets due to strong demand for oil mills amid tight supplies from growing belts, largely pushed up mustard seed futures prices.

At the National Commodity and Derivatives Exchange platform, mustard seed delivery for May rose by Rs 24 or 0.62 per cent to Rs 3,900 per quintal, having a business turnover of 5,860 lots.

In a similar fashion, the delivery for June marked ahead by Rs 16 or 0.41 per cent to Rs 3,935 per quintal, revealing an open interest of 1,17,640 lots.