Mustard Jun Futures Edged Higher



Mustard Jun futures edged higher on Tuesday on reports of hike in soft oil imports duty which will support domestic oilseeds prices. 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.

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, exports of mustard meal is sharply in April increased by 173% on year to nearly 97,891 tons, due to higher demand from South Korea. Exports have been 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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