Mustard seed futures up on spot demand

NEW DELHI, Aug 16:  Mustard seed prices rose by Rs 21 to Rs 3,724 per quintal in futures trade today following raising of bets by participants, bolstered by brisk demand in spot markets amid tight supplies.

Marketmen said apart from restricted arrivals from growing belts, strong demand for oil mills in spot markets mainly lifted mustard seed prices in futures trade here.

At the National Commodity and Derivative Exchange, mustard seed delivery for delivery in August contracts rose by Rs 21 or 0.57 per cent to Rs 3,724 per quintal, in an open interest of 4,640 lots.

Also, the September delivery contracts of mustard seed gained Rs 19 or 0.51 per cent to Rs 3,745 per quintal, revealing an open interest of 56,260 lots. (PTI)

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