Thursday, October 8, 2015

Mustard Seed Ends Higher On Rising Demand

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.

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