Mustard seed futures dip on muted demand

New Delhi, Feb 17 () Mustard seed prices on Monday dropped by Rs 13 to Rs 3,970 per quintal in futures trade as speculators cut down their positions on subdued demand.

On the National Commodity and Derivatives Exchange, mustard seed contracts for February delivery fell by Rs 13, or 0.33 per cent, to Rs 3,970 per quintal in a business turnover of 830 lots.

Mustard seed contracts for April delivery also declined by Rs 7, or 0.17 per cent, to Rs 4,038 per quintal in a business turnover of 18,630 lots.

Marketmen said offloading of positions by participants following a weak trend in spot market mainly led to fall in mustard seed prices. VHP SHWSHW