Mustard seed futures up on increased buying
New Delhi, Dec 17 (PTI) Mustard seed prices spurted by Rs.63 to Rs.3,731 per quintal in future trading today on speculators buying against restricted supply in spot markets.
Mustard seed prices shot up in futures trading on brisk buying driven by a firming spot markets trend amid concerns over poor sowing due to decline in rainfall supported the uptrend.
Rising soybean prices and local demand from pickle making industries also remained a positive factor for the mustard seed futures prices, they said.
At the National Commodity and Derivatives Exchange, mustard seed prices for June contract hardened by Rs.63, or 1.72 per cent to Rs.3,731 per quintal in open interest of 50 lots.
Current December contract gained by Rs.36, or 0.89 per cent to Rs.4,075 per quintal, having an open interest of 4,370 lots.
Most active near January contract advanced by Rs.32, or 0.78 per cent to Rs.4,121 per quintal, persisting an open interest of 67,720 lots.
The Delhi Police is likely to conduct more raids in connection with the IPL spot-fixing scandal. Teams of the Delhi Police's special cell have been sent to Mumbai, Ahmedabad, Hyderabad, and Kolkata to conduct searches and track the money trail in the IPL spot-fixing case.
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