Mustard Seed On NCDEX Settled Down By -0.2% At 3917



Mustard Seed on NCDEX settled down by -0.2% at 3917 tracking weakness in spot demand. Pressure also seen after government reported robust sowing data for the week ended to Jan 6. According to Agriculture Ministry's data Indian farmers have planted mustard seed on 6.93 million hectare area until Jan 6, 10.52% In the same period a year ago sowing was 6.27 million hectare, data showed. Demand for mustard oil expected to decline at higher level in recent times as consumers are likely to shift to cheaper alternatives. Retail consumers are buying mustard oil as per requirement and traders anticipate that demand is not unlikely to increase in coming days due to liquidity crunch.

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