Mustardseed futures prices rise as demand picks up

Mustardseed price rose by Rs 33 to Rs 4,281 per quintal in futures trade today as traders enlarged their positions,tracking a firm trend at spot market on pick up in demand.

At the National Commodity and Derivatives Exchange,mustardseed for delivery in November rose by Rs 33,or 0.78 per cent,to Rs 4,281 per quintal,with an open interest of 70,230 lots.

Mustard for delivery in October gained Rs 25,or 0.60 per cent,to Rs 4,205 per quintal in 4,940 lots.

Market analysts attributed the rise in mustardseed futures to pick up in demand in the spot market.