Mustard Seed On NCDEX Settled Down By -1.55% At 3686

Mustard Seed on NCDEX settled down by -1.55% at 3686 tracking weakness in spot demand as farmers hoard stocks. Mustard seed arrivals across India are under pressure as decreasing mandi rates forced farmers to hoard their stocks. Farmers are hoarding stocks on expectation of higher prices in near term. All India rape/mustard seed arrivals stood at 245,000 bags (80 kilogram per bag) 255,000 bags on previous day.

Total arrivals in Rajasthan were around 125,000 bags, in Gujarat arrivals stood at 7,000 bags, in Uttar Pradesh inventories stood at 40,000 bags, in Haryana & Punjab mustard arrivals stood at 35,000 while in Madhya Pradesh mustard arrivals were at 8,000 bags. Overall farmers sold 40% of their produces in crop season three months (Fed 15- May 15) to 2.680 million tons. Around 4.095 million tons of mustard crops are still with farmers while 705,000 tons are with stockiest and processors.

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