International Spice Commodities Update – Mustard Seed

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Mustard seed prices spurted by Rs 54 ($1.08, €0.82, £0.69) to Rs 3,735 ($75.01, €56.86, £47.43) per quintal in futures trading today on speculative buying on the back of low production estimates.

Marketmen said reports of damage in crops this year, sparked by speculative buying by traders, mainly led to the rise in mustard seed prices.

At the National Commodity and Derivatives Exchange, mustard seed for April jumped up by Rs 54 ($1.08, €0.82, £0.69), or 1.47%, to Rs 3,735 ($75.01, €56.86, £47.43) per quintal, with an open interest of 253,330 lots.

The May contract gained Rs 52 ($1.04, €0.79, £0.66), or 1.39%, to Rs 3,786 ($76.03, €57.64, £48.18) per quintal, with an open interest of 176,290 lots.

www.keresspices.com

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