Mustardseed futures up as participants widen position

Mustardseed prices were higher by Rs 17 to Rs 48 to Rs 3,583 per quintal in futures trade today as speculators expanded their holdings in line with a firm trend at the physical markets.

At the National Commodity and Derivative Exchange, mustardseed for delivery in July contracts looked up by Rs 17 or 0.48 per cent to Rs 3,583 per quintal, with an open interest of 56,160 lots.

Mustardseed for delivery in August also moved up by Rs 16 or 0.44 per cent to Rs 3,621 per quintal, open interest stood at 29,290 lots.

Market players attributed an upsurge in mustardseed prices at futures exchange to raising of bets by participants, triggered by a firm trends at the spot markets on restricted supplies against pick up in demand from oil mills.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)