Mustard Seed On NCDEX Settled Down By -0.29% At 3815

Mustard Seed on NCDEX settled down by -0.29% at 3815 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. After a drop in output over the past two years, production of mustard is seen rebounding this year on the back of higher rabi acreage. Trade sources estimate the crop to be between 6.5 and 7 million tonnes, mainly on account of the higher acreage and prevailing weather conditions in the major producing States of Rajasthan and Madhya Pradesh. Mustard planting is almost complete and per the latest data from the Agriculture Ministry, the rabi acreage under the oilseed has registered a 10.1 per cent increase over last year. The major increase in absolute acreage has come about in Rajasthan, where farmers have planted the oilseed on an additional 3.55 lakh ha or 14.53 per cent more compared to last year.

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