Agro Outlook
Mustard seed prices closed higher by 1.22 per cent on Friday 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 February 2015 contract closed at Rs. 3,550 per quintal, up by 1.22 per cent, after opening at Rs. 3,578 against the previous closing price of Rs. 3,594. It touched the intra-day high of Rs. 3,580. India produces 5.5 million MT to7 million MT annually and about 0.15 million MT is retained for sowing and direct consumption as seed which leaves about 4.8-5.1 million MT for crushing and extracting oil.
CASTORSEED
Castorseed prices fell by 2.41 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for February 2015 contract was trading at Rs. 3,730 per quintal tonnes, down by 2.41 per cent, after opening at Rs. 3,811 against the previous closing price of Rs. 3,822. It touched the intra-day low of Rs. 3,723 till the trading. (At 12.20 PM).
D A I L Y B U Z Z
MUSTARDSEEDMustard seed prices closed higher by 1.22 per cent on Friday 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 February 2015 contract closed at Rs. 3,550 per quintal, up by 1.22 per cent, after opening at Rs. 3,578 against the previous closing price of Rs. 3,594. It touched the intra-day high of Rs. 3,580. India produces 5.5 million MT to7 million MT annually and about 0.15 million MT is retained for sowing and direct consumption as seed which leaves about 4.8-5.1 million MT for crushing and extracting oil.
Castorseed prices fell by 2.41 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for February 2015 contract was trading at Rs. 3,730 per quintal tonnes, down by 2.41 per cent, after opening at Rs. 3,811 against the previous closing price of Rs. 3,822. It touched the intra-day low of Rs. 3,723 till the trading. (At 12.20 PM).
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