mustard hit an over one-week low

The January mustard seed contract on NCDEX hit an over one-week low of 3,912 rupees per 100 kg due to weak meal exports. the contract was 0.2% down at 3,919 rupees. During December, mustard meal exports were estimated at 45,616 tn, over 34% lower on year. Mustard seed prices in Jaipur also fell despite low arrivals due to subdued demand from crushing plants. In Jaipur, the oilseed was sold for 4,115-4,120 rupees per 100 kg, down 10-15 rupees from previous day, while arrivals were pegged at 125,000 bags (1 bag = 85 kg), down 10,000 bags from previous day. Prices are likely to remain under pressure going ahead as arrivals of the new rabi crop are expected to start later this month.