Mustard Seed On NCDEX Settled Down By -0.8% At 3732

Mustard Seed on NCDEX settled down by -0.8% at 3732 on weak demand from crushers. Demand for seed from crusher declined on weak meal and oil demand in export and domestic market. Crushing has declined during April and is estimated 9% lower compared to last season at 700,000 tons. Further weak demand for oil due to hot temperature also affected arrivals. Rape/Mustard seed arrivals across India dropped by 20,000 bags (80 kilogram per bag) on hoarding by farmers and subdued demand. 

Total arrivals in Rajasthan were around 130,000 bags, in Gujarat arrivals stood at 10,000 bags, in Uttar Pradesh inventories stood at 35,000 bags, in Haryana-Panjab mustard arrivals stood at 30,000 while in Madhya Pradesh mustard arrivals were at 15,000 bags. Rape/mustard seed's exports during April dropped by 51.69% to 6,842 tons as compared to 14,163 tons in April 2015, data released by Solvent Extractors Association of India (SEA) showed.

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