Mustard seed prices closed higher by 0.02 % on Wednesday at the National
Commodity & Derivatives Exchange Limited (NCDEX) as a result of
the decline in the supply for the commodity in the major markets. At
the NCDEX, mustard seed futures for October 2015 contract closed at
Rs. 4,634 per quintal, up by 0.02 per cent, after opening at Rs.
4,652 against the previous closing price of Rs. 4,633. It touched the
intra-day high of Rs. 4,794.
India
produces 5.5 m MT to7 million MT annually and about 0.15 m MT is
retained for sowing and direct consumption as seed which leaves about
4.8-5.1 million MT for crushing and extracting oil.
