Mustard seed futures drop on weak cues

New Delhi, Jan 27 () Mustard seed prices on Monday dropped by Rs 26 to Rs 4,189 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 26, or 0.62 per cent, to Rs 4,189 per quintal in a business turnover of 13,550 lots.

Mustard seed contracts for April delivery also declined by Rs 85, or 1.99 per cent, to Rs 4,188 per quintal in a business turnover of 10,680 lots.

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