Mustard Seed on NCDEX settled down by -0.4% at 4997 due to profit booking after prices gained in last some sessions. There are reports of good demand for crushing from industrial buyers but good monsoon is damping the sentiments. Pressure also seen on the account of strong sowing progress of kharif oilseeds along with weak mustard meal export demand. As per official data, the overall sowing acreage of kharif oilseeds has been reported at 149.60 lakh hectares , up 6 % from last year. Moreover, weakness in mustard meal oilseeds also added selling in local mandies.
In Alwar spot market in Rajasthan the prices remains unchanged at0 rupees to end at 5029.25 rupees per 100 kg.Technically now Rmseed is getting support at 4975 and below same could see a test of 4953 level, And resistance is now likely to be seen at 5021, a move above could see prices testing 5045.
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