Mustard Seed On NCDEX Settled Down By -0.52% At 4618

Mustard Seed on NCDEX settled down by -0.52% at 4618 on expectation of higher output. Prices remained under pressure amid expectation of higher supply following reports of good acreage expected in the coming rabi season. The demand from oil millers and crushing units is expected to pick up at the prevailing levels due to recovery in the crush margin which may prompt oil millers and crushing units to replenish their stocks ahead of the festive demand in the ongoing month. Further, Canada is likely to produce 2.5 million tons mustard seed in 2016-17 (Aug-Jul) compared to 1.23 million tons a year ago.

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