Rmseed On NCDEX Settled Down -0.4% At 3773

Rmseed on NCDEX settled down -0.4% at 3773 tracking weakness in spot demand and over supply worries. Availbility of cheaper oil option and expectation of higher output kept mustard prices under pressure. The shipment of rapeseed-mustard oil also increased to 17,878 tonnes from 7,461 tonnes, but the import of soyabean oil fell to 166,573 tonnes from 441,200 tonnes in the period under review. “Importers continue to make larger import purchases of sunflower oil, taking advantage of the still large price discount versus soyabean oil,” SEA said.

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