Mustard Seed On NCDEX Settled Up By 0.34% At 4973

Mustard Seed on NCDEX settled up by 0.34% at 4973 on improved demand for seed and on supply worries in global market. As per latest USDA report, rm seed output in Canada in July 2016-17 is estimated at 16.4 million tons compared to 17.2 million tons in the previous year while the EU rapeseed crop production is estimated to fall by 600,000 tons to 21.2 million tons on year. USDA's WASDE report showed rapeseed imports jumped by 200,000 tons to 2.5 million tons following a decline in forecast domestic production for 2016-17. Seasonal demand for mustard oil, however, is expected to gather pace when demand from pickle manufacturers gains momentum. Mustard seed crush margins have also turned positive, supporting demand from processors.

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