Mustard Sep Futures Closed Lower On Wednesday




Mustard Sep futures closed lower on Wednesday but traded in a range due to steady demand and higher stocks with the stockists Moreover, higher availability of edible oil also pressurize prices at higher levels. 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. However, the prices have been quite steady in previous 2 weeks due to improvement in exports of meal during the first 4 month of 2017/18. Meal exports jumps about 135% to 1.53 lakh tonnes against 65,086 tonnes last year for the same period.

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