Mustard Sep Futures Closed Lower On Monday

Mustard Sep futures closed lower on Monday on reports of higher imports of edible oil during July. However, mustard is trading in a range since one month due to steady demand and higher stocks with the stockists.

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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