Rmseed On NCDEX Settled Down -0.25% At 3925

Rmseed on NCDEX settled down -0.25% at 3925 on forecast of higher output and yields. According to Ministry of Agriculture, till Jan 13 around 6.956 million hectare has been planted which is up by 11% on year for the same duration. The rains which are expected during the coming days would be favourable for the mustard crop as the crop requires moisture during this stage. The favourable climatic conditions this year have raised hopes of a bumper mustard crop in 2016-17, if there is no adversity reported in coming months. Mustard sowing is completed on 6.953 million hectare as compared to 6.276 million hectare, higher by 10.8%.

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