NCDEX Agro Outlook Updates Of 16/03/2015

MUSTARD SEED

Mustard seed prices closed higher by 0.15 per cent on Thursday 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 April 2015 contract closed at Rs. 3,382 per quintal, up by 0.15 percent, after opening at Rs. 3,375 against the previous closing price of Rs. 3,377. It touched the intra-day high of Rs. 3,394. 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.

 

JEERA

Jeera prices closed higher by 2.7 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for March 2015 contract closed at Rs. 14,630 per quintal, up by 2.7 per cent, after opening at Rs. 14,300 against the previous closing price of Rs. 14,245. It touched the intra-day high of Rs. 14,650.