Mustard Seed On NCDEX Settled Flat

Mustard Seed on NCDEX settled flat on oversupply woes and weak demand. Prices of seed were down as according to third advance estimates released by Rajasthan government, India's biggest mustard seed producer expected to produce 3.73 million tons of seed during 2016-17 as compared to 3.25 million tons in the previous year. Meanwhile, Solvent Extraction Association of India at its first National Conclave on Rapeseed and Mustard held on Apr 25 planned to set a mustard technology mission to double mustard oilseed output to 15 million tons from current seven million tons by 2025. 

Good weather and increase in minimum support prices (MSP), which attracted farmers to plant higher mustard, resulted into record crop of over 71.09 lakh tonnes, says industry body Solvent Extractors Association. SEA Rapeseed-Mustard Conclave 2017 held at Jaipur launched “Mustard Mission 2020” aiming to raise the production of Rape-Mustard seed to 10 Million Tonnes by 2020

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