Mustard Seed Futures Closed Higher

Mustard seed futures closed higher on Wednesday due to boost in winter demand by the industrial buyers and increase in MSP. The Dec’16 contract ended 0.35% down to settle at Rs. 4,785/quintal. There are reports of good sowing progress in the state of Rajasthan, Uttar Pradesh and MP. As per agriculture ministry data, all-India acreage of mustard in the ongoing rabi season was nearly 58.1 lh as on Nov 24 up 17.8% from a year ago. The sowing operations were not affected much, as sowing is nearing an end, and farmers had already bought the seeds.

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