Mustard Seed On NCDEX Settled Up By 0.73% At 3866

Mustard Seed on NCDEX settled up by 0.73% at 3866 tracking firmness in spot demand despite of oversupply woes. Mustard Oil Producers Association (MOPA) in its 38th All India Rabi Oil Trade and Industry Seminar held in Raipur hiked its mustard seed 2016-17 output forecast by 19.31%. India's mustard seed output during 2016-17 is estimated at 6.92 million ton as against 5.8 million ton on thanks to higher acreage and favourable weather, said MOPA. India's mustard output is estimated to rise to 6.9 mln tn in 2016-17 (Jul-Jun), from 5.8 mln tn a year ago, due to better yield and favourable weather, a survey done by the Central Organisation for Oil Industry and Trade and Mustard Oil Producers Association showed.

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