Mustard Seed on NCDEX settled down by -1.09% at 4881



Mustard Seed on NCDEX settled down by -1.09% at 4881 on profit booking after prices gained earlier due to good demand and lower level buying. In the recent weeks, mustard prices are moving in sideways to lower on anticipation of good oilseed production in the kharif season. Persistent rain at harvest time is set to cause a late reduction in the European Union's crop of rapeseed, its main oilseed for edible oil and biodiesel production. As per latest USDA report, global rapeseed production for 2016-17 is forecast at 66.5 mt, higher by 389,000 tons this month.

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