Mustard Seed On NCDEX Settled Down

Mustard Seed on NCDEX settled down by -1.28% at 4644 on oversupply woes in local market following reports of robust sowing data. Arrivals gained from 40,000 bags to 50,000 bags. Supply in market yard has increased as compared to last week as farmers need money for rabi crop sowing followed by some improvement in liquidity prompted farmers to liquidate their stock. In addition to that, India's mustard crop sowing rose 13.62% to 6.17 million hectare until Dec 2 on the back of favourable weather condition despite reports of cash crunch caused by demonetization, agriculture ministry data showed. 

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