Mustard Jul Futures Edged Lower



Mustard Jul futures edged lower for the second successive session on Wednesday due to fresh selling initiated by market participants after it touched 4 months high in the previous session. It jumped 3.1% on first 10 days in July on anticipation of improved meal and crushing demand. Recently, government increase import duty on soft edible oil by 10-15%. Mustard oil mills across the country crushed 650,000 tn of the oilseed in June, down 27% from previous month as per data release by Mustard Oil Producers Association of India. According to SEA latest export report, mustard meal exports during first 2 months of 2018/19 is higher by 90% on year due to higher demand from South Korea.

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