Agri Commodity tips: Mustard Seed prices closed lower by 0.51 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the investors on account of the weak crushing and export demand of mustard meal. At the national Commodity Exchange, Mustard Seed futures for September 2015 contract closed at Rs. 4,271 per quintal, down by 0.51 per cent, after opening at Rs. 4,300 against the previous closing price of Rs. 4,293. It touched the intraday low of Rs. 4,264.
Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.
EU-27 accounts to about 34 % of worlds RM seed production, others major producers are China (23 %), Canada (19 %), India (14 %), Australia (3 %), Ukraine (2 %). India produces 5.5 million MT to7 million MT annually.
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