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Rapeseed/mustard seed futures continued their bearish run on both spot and futures following reports of higher coverage of the crop and slack upcountry demand.
On the NCDEX, rapeseed futures for November delivery was up by 0.05 per cent on short covering to Rs 4,250 a quintal. December and January contracts were down by 0.3 and 0.4 per cent at Rs 4,252 and Rs 4,298 respectively.
Rabi oilseeds sowing as on November 10 was reported at 43.21 lakh hectares compared with 35.18 lakh hectares in the same period last year. The MSP for rapeseed has been increased by 20 per cent from Rs 2,500/quintal to Rs 3,000 for 2012-13 season.
Total arrivals of rapeseed in Rajasthan, the top grower of the oilseed, today were 20,000-28,000 bags (of 85 kg each).
Plant delivery prices also were on the decline with Jaipur line ruling at Rs 4,450-4,460 from yesterday's 4,470-4,480 a quintal.
Spot prices were down on profit booking and in Jaipur (Rajasthan) the oilseed was quoted at Rs 4,451.55.
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