Mustard Jul Futures Close Lower On Tuesday



Mustard Jul futures close lower on Tuesday due higher supplies of mustard oil coupled with steady demand. Increase in imports of Mustard oil during the last month is pressurizing prices. As per SEA recent data, mustard oil imports increase by 55.7% in May compared to last year imports.

Moreover, imports for period Nov-May increase to 1.18 lt in 2016/17 from 1.72 lt in the previous year. Meal exports from the country during last month jumped which improves demand for oilseed. Mustard meal exports have increase 1275% in May this year at 42,488 tonnes compared to last year in May. Last year, India exports about 3,090 tonnes of meals in May.

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