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Mustard seed futures regain on short-covering

Mustard seed prices came up by Rs 14 to Rs 3,864 per quintal in futures trading today after creation of fresh bets by speculators in tune with upbeat physical market sentiment.

Market players said induced by the rising prices at the spot markets due to brisk demand for oil mills amid tight supplies from growing belts, traders preferred to build up fresh positions, which led to the upbeat in mustard seed futures prices.

At the National Commodity and Derivatives Exchange, mustard seed delivery for May went up by Rs 14 or 0.36 per cent to Rs 3,864 per quintal, in an open interest of 24,300 lots.

The delivery of the most traded June month also increased by Rs 13 or 0.33 per cent to Rs 3,903 per quintal with an open interest of 1,04,600 lots.