Mustard seed June futures traded on a negative note on Tuesday on profit taking and settled 0.7% lower. Prices gained earlier on demand from millers for mustard meal exports and declining arrival pressure.
Mustard meal export surged 132% to 125,872 tn in Apr ’14 compared to 54,077 tn in Apr ’13. Sowing of mustard seed in 2013-14 stood at 7.13 mn ha as against 6.73 mn ha last year. Agriculture ministry in its second advance estimates pegged 2013-14 mustard output at 8.25 mn tn, up 2.76% compared to 8.03 mn tn in 2012-13.
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