Comments
After trading in the green for the last three sessions, mustard seed/ rapeseed futures settled down on Thursday by 0.6 per cent on account of profit-booking.
On the NCDEX, mustard for October delivery dropped by Rs 21 to Rs 4,040 a quintal. November and December contracts slid by Rs 21 and Rs 25 to Rs 4,096 and Rs 4,142 respectively.
The prospects for higher acreage under mustard in the ensuing rabi season in the key producer, Rajasthan, aided the negative trend.
Mustard output was lower in 2011-12. However, on the back of higher returns and improved rains, its output next year is expected to be better. Sowing of rapeseed starts from October and Rajasthan is the country’s top producing area.
In the spot market also, rapeseed prices showed an easy trend due to slack upcountry demand, with total arrivals in Rajasthan at 25,000-32,000 bags (of 85 kg each). In Jaipur (Rajasthan), the oilseed was quoted at Rs 4,270.65 a quintal.
Rapeseed plant delivery at Jaipur also declined to Rs 4,275-4,280 against yesterday's Rs 4,300-4,305 on lower offtake from millers.
On the global front, the MATIF rapeseed November contract crept up 0.84 per cent to 482 euros a tonne at Paris.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.