Mustard Seed Prices Remained Pressure

Mustard seed prices remained pressure due to weak demand from the oil mills due higher supplies and lower prices of mustard oil in domestic market. 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. The arrivals of mustard seed in the physical market is lower during first 20 days of June compared to May. As per data, the mustard arrivals were 1.13 lakh tonnes this month compared to 2.08 lakh tonnes during last month.

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