Rmseed On NCDEX Settled Down -0.55% At 4875

Rmseed on NCDEX settled down -0.55% at 4875 on the account of strong sowing progress of kharif oilseeds along with weak mustard meal export demand. As per official data, the overall sowing acreage of kharif oilseeds has been reported at 149.60 lakh hectares, up 6 % from last year. Moreover, weakness in mustard meal oilseeds also added selling in local mandies. As per the latest release from Solvent Extractors' Association of India , the export of oilmeals during June 2016 is reported at 0.43 lakh tons compared to 0.58 lakh tons of the last year in the same period.

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