Mustard Seed On NCDEX Settled Down By -1.44% At 3834

Mustard Seed on NCDEX settled down by -1.44% at 3834 amid a weak trend at the physical markets owing to low demand. The new crop arrivals are steady and slightly firmed up but cheaper than what they were in mid-January. Mustard crop has started arriving in major mandis of Rajasthan, Haryana, Gujarat and Madhya Pradesh. According to the government’s second advance estimate, the crop this year is expected to be 79.12 lakh tonnes as against 67.97 lakh tonnes in the previous year. HAFED started mustard procurement at the minimum support price (MSP) of Rs 3,700 per quintal in the local grain market but a majority of farmers had to sell their crop to private buyers at a lower price as their produce failed to meet the moisture level.

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