Mustard Seed On NCDEX settled up by 0.64% at 3944

Mustard Seed on NCDEX settled up by 0.64% at 3944 on short-covering and on lower arrivals. Prices were also up as new mustard seed arrivals across the country totalled at 615,000 bags against 650,000 on previous session. India is expected to produce around 6.5-7 million tonnes (mt) of rape mustard seeds in 2016-17 as compared to 5.8 mt produced in 2015-16 due to higher acreage and improving productivity. The carry-forward stock from the previous season was around 0.15 mt. The Ministry of Agriculture expects 8.5 mt of mustard seeds to be produced in the current rabi season against 6.8 mt a year ago, as per its 4th advanced estimates.

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