Mustard Seed On NCDEX Settled Down By -1.04% At 3610

Mustard Seed on NCDEX settled down by -1.04% at 3610 on higher arrivals in local mandis and lack of demand due to summer season. Prices of mustard seed were under pressure on robust output in country. All India rape/mustard seed arrivals stood at 265,000 bags (80 kilogram per bag) 260,000 bags. Total arrivals in Rajasthan were around 135,000 bags, in Gujarat arrivals stood at 10,000 bags, in Uttar Pradesh inventories stood at 40,000 bags, in Haryana & Punjab mustard arrivals stood at 40,000 while in Madhya Pradesh mustard arrivals were at 10,000 bags.

Rape seed/mustard seed output in Rajasthan during 2016-17 is estimated at 3.73 million ton on the back of higher acreage, according to third advance estimates released by the state government. Last year, Rajasthan produced 3.25 million ton rape/mustard seed. Rapeseed/mustard seed acreage stood at 2.68 million hectare up from 2.53 million hectare a year ago, showed data. India's 2016-17 rapeseed/mustard output is projected at 7.91 million ton by agriculture ministry while trade body SEA projected output at 7.2 million ton.

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