Mustard Seed On NCDEX Settled Down By -0.34% At 3826

Mustard Seed on NCDEX settled down by -0.34% at 3826 on weak demand and on higher supply. Pressure seen on prices as crops are in good to excellent condition and weather is favourable due to which traders are pegging that mustard crop to be higher by around 15-20% than last year. Government reported robust sowing data for the week ended to Feb 3. According to Agriculture Ministry's data Indian farmers have planted mustard seed on 7.05 million hectare area until Jan 27, up 9.30%. In the same period a year ago sowing was 6.45 million hectare, data showed.

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