MUMBAI (Commodity Online): Recovery was seen in RMseed market due to short covering and some fresh buying. Please recall that RMseed April contract fell nearly 17 % during the last one month on weak demand.

A trade body conducted filed survey to estimate the mustard crop production this year. Rajasthan mustard production is estimated at 27 LT, UP eight LT, Punjab and Haryana together 6.75 LT, MP and Chatisgarh 8.30 LT, WB 2.60 LT and other states 3.40 LT, all India 59.20 LT. For the next few days, weather in Northern India may remain crucial for the crop.

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Until date, weather remains comfortable. Some northern parts of the country have received showers that may prove beneficial for the crop. New crop arrival will start from mid February.

A volatile trade may be seen in near future. A cautious trade is advised for next few days. On Tuesday, prices are expected to trade positive.

Courtesy: Religare Commodities

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