Mustard settled down -0.21% at 3832 from higher levels due to steady sowing progress of rabi crop so far in the current year along with higher carryover stocks in local mandies. As per the latest release from Ministry of Agriculture, the total sowing acreage of mustard seed has been reported at 14.08 lakh hectares, up 110% from the last year in the same period. This was mainly due to better prices of mustard seed in local mandies along with timely harvesting of kharif crop in Uttar Pradesh and Rajasthan. Therefore, strong sowing progress of mustard seed crop will encourage stockiest selling from higher levels.
Wednesday, November 13, 2013
Commodity Trading Tips for Mustard by KediaCommodity
Mustard settled down -0.21% at 3832 from higher levels due to steady sowing progress of rabi crop so far in the current year along with higher carryover stocks in local mandies. As per the latest release from Ministry of Agriculture, the total sowing acreage of mustard seed has been reported at 14.08 lakh hectares, up 110% from the last year in the same period. This was mainly due to better prices of mustard seed in local mandies along with timely harvesting of kharif crop in Uttar Pradesh and Rajasthan. Therefore, strong sowing progress of mustard seed crop will encourage stockiest selling from higher levels.
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