NCDEX Settled Up By 0.75% At 4681

NCDEX settled up by 0.75% at 4681 on short-covering after prices plunged on higher supply in global market. In India production of mustard seed is seen higher at 6.9 million ton compared to 6.3 million ton a year ago. While, mustard output in Rajasthan, the largest producer, is seen at 2.6 million ton this year compared to 2.2 million tons last year. Moreover, USDA in its report hiked global rapeseed production for 2016-17 during August month to 67.16 million tons compared to 66.54 million tons in July. Meanwhile, NCDEX is mulling to add additional delivery centres in Sumerpur and Bharatpur at Rajasthan and new mustard futures contract, starting from October

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