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Mustard futures gained on the National Commodities and Derivatives Exchange on Wednesday on global cues and demand.
Rapeseed August futures on the NCDEX were quoted at Rs 4,497/quintal (up Rs 122 from the Tuesday's close).
Demand for rapemeal, offtake from pickle manufacturers and delayed monsoon are seen as factors behind the price push.
Mustardseed for September delivery quoted Rs 4,560 (up by Rs 124) while October series zoomed to Rs 4,598 (up by Rs 126).
In the spot market at Jaipur (Rajasthan), mustard seed was quoted Rs 4,477.
Traders expect mustardseed prices to top Rs 4,500/quintal in the coming days with farmers holding back stocks, anticipating higher returns.
As a result, mustardseed arrivals in Rajasthan, the largest producing State in the country, were estimated at 45,000-50,000 bags (1 bag = 85 kg) today, largely unchanged from Monday.
On MATIF or Euro Next France, rapeseed for August delivery rose 4.5 per cent to 563.50 (euro/tonne).
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