Mustard Jul Futures Edged Lower On Tuesday



Mustard Jul futures edged lower on Tuesday due to long liquadation by the market participants amid forecast of normal rains in the country. However, the prices are still trading in range due to good meal and crushing demand. According to data compiled by the MOPA, mills across the country crushed 900,000 tn of the oilseed in May, unchanged from the previous month but the crushing is higher compared to last year. Overall mustard stock in the country were estimated at 53 lakh tonnes (70 lt production minus 17 lt crushed), out of which 42 lt is still with the farmers while 11 lt with the oil mills and stockists. As per latest SEA import data, mustard oil imports were down 14% on year in April which may lead to higher domestic crushing. According to SEA latest export report, mustard meal exports during first 5 months of 2018 is higher by 164% on year due to higher demand from South Korea. Exports are 209% higher at 6.64 lt for the FY 2017/18 compared to previous year’s export volume of 2.14 lt.

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