Mustard prices are projected to remain modestly higher in line with soy complex. Weather in southern china which is affecting rape seed crop might result in crop damage and limit their supplies.
This could prompt stockists in Indian markets to accumulate as fresh crop arrivals have started in spot markets. Stockist and crushers are expecting Chinese to remove the ban on Indian oil meal imports as their domestic production would not be sufficient to meet their requirement.
Production estimates are still around 65 lakh tons compared to 70 lakh tons last year. Solvent Extractor’s Association survey is due during this might which would project clear estimates for mustard production for 2012.
Courtesy: Karvy Comtrade Ltd.
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