Mustard Seed On NCDEX Settled Up By 0.41% At 3663

Mustard Seed on NCDEX settled up by 0.41% at 3663 as prices seen supported on reports of good exports of meal during the first quarter of 2017/18. 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 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. As per SEA recent data, mustard oil imports for period Nov-May increase 5% to 1.18 lt in 2016/17 from 1.72 lt in the previous year. Moreover, imports increase by 55.7% in May compared to last year imports. 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.

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