Mustard Aug Futures Prices Closed Lower



Mustard Aug futures prices closed lower on Wednesday on profit booking but prices have been trading in range on reports of steady demand and sufficient stocks in the country. However, improvement in exports of meal during the first quarter of 2017/18 helped gain 23% in last one month. Meal exports from the country during the first quarter increase to 1.36 lakh tonnes from 60,889 tonnes last year same period. Mustard meal exports in June this year is pegged at 44,074 tonnes, down 21.4% compared to previous month in May. Last year, India exports 43,636 tonnes of meals in June.

According to data compiled by Mustard Oil Producers Association of India, Oil mills in the country crushed 550,000 tn mustard seed in June, 23% lower from the previous month.

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