Mustard July Futures Closed Lower On Friday

Mustard July futures closed lower on Friday due to lower meal export data from the Solvent Extractors coupled with lower crushing data. For the week the prices were closed flat. 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.

Meal exports from the country during last month were lower compared to previous month. Mustard meal exports in June this year at 4074 tonnes, down 21.4% compared to previous month in May. Last year, India exports 43,636 tonnes of meals in June.

As per Agmarknet data, the mustard arrivals were 16,430 tonnes last week, lower as compared to 23,367 tonnes in the previous week. Higher stocks level in country is still pressurizing prices.

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