Mustard Jun Futures Continue To Trade Lower

Mustard Jun futures continue to trade lower and dropped lowest since April 2015 as market participants are expecting higher supplies of crop in the physical market amid bumper crop forecast this season. Stockiest and millers are buying in the market at lower price levels.

As per third advance estimates, the production of most important rabi oilseed, rapeseed & mustard, is expected to increased by 12 lt to 79.8 lt compared to last year. Due to lower prices in the current season, the arrivals of mustard in the physical have been lower during the second half of May compared to first half. During last 15 days, only 1 lt of mustard arrivals recorded compared to 1.51 lt, as per Agmarknet data.

Mustard meal exports have been lower by about 51.7% in April 2017 at 6,842 tonnes compared to last year in April. Last year, India exports about 14,160 tonnes of meals in April.

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