Rmseed On NCDEX Settled Down -0.49%



Rmseed on NCDEX settled down -0.49% at 4699 on weak demand from processors amid poor off-take for oil and meal. Prices of rmseed were also down as arrivals were marginally higher at 80,000 lakh bags as compared to 75,000 bags during previous session. The good monsoon this year is improving the expectation of better crop prospects for rabi season. As per official data, the overall sowing rapeseed crop is raised to 67.16 mt compared to 66.5 mt in July with larger production estimates for Canada and Australia that more than offset reductions in the European.

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