Rmseed On NCDEX Settled Up 0.66% At 3806

Rmseed on NCDEX settled up 0.66% at 3806 on lower arrivals in local mandis and as investors covered short position at lower level. As per Rajasthan government's third advance estimate the state's rape-mustard seed production rose to 3.730 million tons. Lower demand of mustard oil with negative crush parity has led plants to shut off temporary in the Bharatpur area. India is expected to produce around 6.5-7 million tonnes (mt) of rape mustard seeds in 2016-17 as compared to 5.8 mt produced in 2015-16 due to higher acreage and improving productivity.

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