Mustard seed futures drop on muted demand

New Delhi, Feb 18 () Mustard seed prices on Tuesday dropped by Rs 29 to Rs 3,932 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 29, or 0.73 per cent, to Rs 3,932 per quintal in a business turnover of 460 lots.

Mustard seed contracts for April delivery also declined by Rs 14, or 0.35 per cent, to Rs 3,994 per quintal in a business turnover of 18,460 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