Rmseed On NCDEX Settled Down -0.72% At 4975

Rmseed on NCDEX settled down -0.72% at 4975 tracking weakness in spot demand despite of supply worries. The country has received 3.780 million tons of mustard seed against industry production estimate of 5.5 million tons of production, which means around 1.7 million tons of mustard seed left until new season, which begins from March. 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.

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