Mustard Seed On NCDEX Settled Down By -0.37% At 3779

Mustard Seed on NCDEX settled down by -0.37% at 3779 tracking weakness in spot demand on oversupply woes. According to market participants carry over stock of mustard seed as of Feb 1 is around 350,000-400,000 tons while production is expected to be at 6.5-7 million tons this year. In addition to this, harvesting has started in full swing in Kota division while new mustard crop all over Rajasthan is in very good condition and harvesting in other parts will start in last week of February. With the expectation of good crop in 2016/17, the new season supplies will be at higher size in the country. In addition to that the carryover stocks from last year might be higher as country imported record mustard oil and exported multiyear low mustard meal.

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