Mustard Seed Continue To Slide Down Further On Friday

Mustard seed continue to slide down further on Friday on improved sowing progress in Rajasthan and Uttar Pradesh. Moreover, lower demand for meal export and favorable crop condition in mustard producing States further pressurizing the price. NCDEX Jan ’16 futures closed 2.07 per cent down at Rs. 4,684 per quintal.

Area coverage of RM seed this year is lower by 6.74 lakh ha compared to corresponding period of Rabi 2014-15 as per latest SEA circular. Until, 04 Dec, 54.17 lakh hectares area is sown compared to 60.91 lh last year same time. In Rajasthan has sown 23.2 lh vs 25.5 lh as on Dec 7, compared to 25.5 lh sown last year same time. On the export front, the shipment of rapeseed meal exports plunge y/y by more than 61.4 per cent until November to 2.95 lt .

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