Mustard seed futures drop on tepid demand

New Delhi, Jan 21 () Mustard seed prices on Tuesday dropped by Rs 21 to Rs 4,265 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 21, or 0.49 per cent, to Rs 4,265 per quintal in a business turnover of 12,690 lots.

Mustard seed contracts for April delivery declined by Rs 5, or 0.12 per cent, to Rs 4,296 per quintal in a business turnover of 12,370 lots.

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