Mustard Seed On NCDEX Settled Up By 0.56% At 3751

Mustard Seed on NCDEX settled up by 0.56% at 3751 on short covering after prices dropped on higher arrivals in local mandis. Data released by the Solvent Extractors Association of India showed Rapeseed/Mustard including Taramira crop output increased to 6.971 million tons compared to 5.8 million tons during last year. Earlier, Ministry of Agriculture also predicted rm seed output to increase by more than 16-18% to about 8 million tons in 2016-17. All India mustard seed arrivals were stood at 250,000-270,000 bags (80 kilogram per bag) as compared to 200,000-225,000 bags. Total arrivals in Rajasthan were around 135,000-140,000 bags, in Gujarat arrivals stood at 5,000-10,000 bags, in Uttar Pradesh inventories stood at 35,000 bags, in Haryana-Panjab mustard arrivals stood at 35,000-40,000 while in Madhya Pradesh mustard arrivals were at 10,000 bags.

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