NCDEX May Mustard Seed futures traded higher (up 1.23%) on back of the lower production estimates of domestic mustard seed.
Gains in edible oil and other oilseeds also added bullish market sentiments. As per COOIT, the country's rapeseed output is estimated to drop by 12.6 percent to 6.03 million tonnes in the year to June 2012.
The overall rabi (November-March) oilseed crop for 2011-12 is estimated to fall to 8.79 million tonnes from 9.87 million tonnes last year, with a drop in sown area from 9.72 million hectares last year to 9.07 million ha this time.
RM Seed meal shipments during the finance year 2011-12 (Apr-Mar) were 1,171,895 tonnes (value Rs. 1028.30 cr), up by 25 per cent from 9,36,238 tonnes (value Rs. 972.73 cr) a year ago.
Average RM Seed meal price of March was US$ 200/tonnes FOB at domestic ports (1$=50.36).
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NCDEX RM Seed Edges Higher On Lower Production Concerns: April 11, 2012
Published 04/11/2012, 03:08 AM
Updated 05/14/2017, 06:45 AM
NCDEX RM Seed Edges Higher On Lower Production Concerns: April 11, 2012
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