Mustard Seed On NCDEX Settled Down By -0.2% At 3556

Mustard Seed on NCDEX settled down by -0.2% at 3556 on late profit booking after prices supported by firmness in spot demand. However, the arrivals have been reducing in the physical market. As per data, the mustard arrival in first 6 days of June is down to 25,105 tonnes versus 75,390 tonnes in May for the same period. As per third advance estimates, the production of most important rabi oilseed, rapeseed & mustard, is expected to increase by 12 lt to 79.8 lt compared to last year.

Mustard meal exports have been lower by about 51.7% in April this year at 6,842 tonnes compared to last year in April. Last year, India exports about 14,160 tonnes of meals in April. 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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