MustardSeed prices closed lower by 0.77 per cent on Wednesday 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 Sept 2015 contract closed at Rs. 4,236 per quintal,
down by 0.77 per cent, after opening at Rs. 4,273 against the
previous closing price of Rs. 4,269. It touched the intra-day low of
Rs. 4,228.
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 per cent 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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