Mustard seed futures decline on spot demand

NEW DELHI, Aug 21:  Mustard seed prices softened by Rs 14 to Rs 4,152 per quintal in futures trade today as traders trimmed holdings, guided by weak demand in the spot markets.

Marketmen said traders were narrowing their holdings, taking direction from negative physical markets, where ample stocks and muted demand for oil mills kept the prices lower.

At the National Commodity and Derivatives Exchange counter, the most-traded delivery of the Mustard seed for September receded by Rs 14 or 0.34 per cent to Rs 4,152 per quintal, in an open interest of 1,08,560 lots.

The delivery for October also inched down by Rs 5 or 0.12 per cent to Rs 4,220 per quintal, having an open  interest of 22,410 lots. (PTI)