Mustard Seed On NCDEX Settled Up By 0.6% At 3665



Mustard Seed on NCDEX settled up by 0.6% at 3665 on short covering after prices dropped due to weak demand on higher supplies and lower prices of mustard oil in domestic market. As per recent data from Solvent Extractors Association , mustard oil imports increased 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.

Increase in imports of Mustard oil during the last month is pressurizing prices. 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.

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