Mustard Seed On NCDEX Settled Up By 0.35% At 3696

Mustard Seed on NCDEX settled up by 0.35% at 3696 amid higher demand for rape-meal in export market. Rape/mustard seed's exports during June also spurted to 44,074 tons as compared to 43,636 tons in June 2016, data released by Solvent Extractors Association of India (SEA) showed. The agriculture department in Rajasthan has estimated mustard output in 2016-17 (Jul-Jun) to rise by 21% on year to 3.94 mln tn because of higher yields. Mustard arrivals began in mid-February, while supply started in March in full swing.

Arrivals in mandies started shrinking in June due to beginning of lean season. India is estimated to have produced 6.9 mln tn mustard in the crop year that ended June, up nearly 19% from 5.8 mln tn a year ago, due to better yield and favourable weather, a joint survey by the Central Organisation for Oil Industry and Trade and Mustard Oil Producers Association had reported.

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