Mustard seed Rises on Poor Stocks in Local Mandies
DATE: 27/08/2012
Mustard seed futures gained almost 1% today due to receding stocks in
domestic market against strong millers demand.
Traders mentioned that the total stocks of around 20-21 lakh tonnes have
been reported in the major producing states against the total requirement of
21-22 lakh tonnes ( considering 4-5 lakh tonnes monthly) till February month.
This might also create the scarcity in mustard market in the coming months.
Moreover, the total daily arrivals of mustard seed have also been reduced
to 40-45 thousand bags against 60-65 thousand bags that were reported earlier.
Therefore, poor supplies in major mandies have prompted strong gains in futures
market.
The future prices of Mustard seed NCDEX September Benchmark contract
swelled by R 40 per quintal, to trade at R 4533 per quintal in the last trading.
+POWERED BY: COMMODITY INSIGHTS
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