Rmseed Settled Up 0.18% At 3941

Rmseed settled up 0.18% at 3941 on reports that Rajasthan government may withdraw stock limits for oil and oilseeds. However, reports of higher production expected from Rajasthan, top producing state capped further gain. India's mustard output is seen rising for the first time in three years at 6.84 mt as per second advance estimates by Dept of Agriculture. Last year, the production was 6.31 mt. 

As per second advance estimate released by Commissionate of Rajasthan, mustard production is forecasted at 34.95 lt compared to 28.8 lt last year. As per latest government data release, area coverage of RM seed this year is little lower at 64.8 lakh hectare compared to 65.14 lh sown in last year. Production of RM seed is estimated at a record-high of 6.8 million tons this current fiscal year.

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