Prices of mustard seed fell sharply in Jaipur as arrivals of the new crop rose significantly. Prices are likely to fall in coming days due to an estimated larger mustard seed crop. Mustard seed output for 2018-19 (Jul-Jun) was pegged at 8.4 mln tn, 1% higher than a year ago, according to the second advance estimates of the government. In Jaipur, mustard seed was sold at 4,000-4,005 rupees per 100 kg, down 10-15 rupees from previous day. Total arrivals across India were pegged at 315,000 bags (1 bag = 85 kg) compared with 260,000 bags on the previous day. mustard seed futures too fell tracking weak cues from spot markets. The most active April mustard seed contract on NCDEX was at 3,828 rupees per 100 kg, down 0.3%.
Heavy rain accompanied by hail on Wednesday flattened nearly 50% of the standing mustard crop in 300 villages of Pilibhit district in UP. Besides, standing wheat crop in several parts of the district was also damaged. Agricultural experts and revenue officials, who made separate assessments of the damage on Thursday it would take a few more days to precisely calculate the quantum of actual loss on individual basis.