Mustard Seed Ends Lower On Waning Demand

 Mustard Seed prices closed lower by 0.09 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At the NCDEX, Mustard Seed futures for Oct 2015 contract closed at Rs. 4,441 per quintal, down by 0.09 per cent, after opening at Rs. 4,421 against the previous closing price of Rs. 4,445. It touched the intra-day low of Rs. 4,410.

Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.

EU-27 accounts to about 34 % of worlds RM seed production, others major producers are China (23 %), Canada (19 %), India (14 %), Australia (3 %), Ukraine (2 %). India produces 5.5 million MT to7 million MT annually.

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