Mustard Aug Futures Closed Little Higher



Mustard Aug futures closed little higher and trading in a narrow range this week on mixed fundamentals of lower demand and reports crop damage of stored in warehouses in Gujarat and Rajasthan due to heavy rains. The prices have been trading in a range since last two weeks due to sufficient supplies.

There is improvement in exports of meal during the first quarter of 2017/18. Meal exports from the country during the first quarter increase to 1.36 lakh tonnes from 60,889 tonnes last year same period.

Mustard prices have been under pressure this season due to record production in 2016/17 and higher imports of Mustard oil during the current oil year started Nov 2016. 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.


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