NCDEX May mustard seed futures traded lower on account of profit taking after continuous rise in the last few weeks. Losses in edible oil and other oilseeds also added bearish 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.
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NCDEX RM Seed Tumbles On Profit Taking: April1 6, 2012
Published 04/16/2012, 04:32 AM
Updated 05/14/2017, 06:45 AM
NCDEX RM Seed Tumbles On Profit Taking: April1 6, 2012
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