Mustard seed futures closed higher on Wednesday due to lower level buying by the market participants. However, there is expectation of higher production in the next season, which encourage the traders to sell their stored mustard in the physical market. The Nov’16 contract ended 1.24% higher to settle at Rs. 4,567/quintal. The country's production of rapeseed is expected to increase by 12.5 % to 6.3 mt from a year earlier. The demand for mustard may pickup in physical market due to approaching winter. The prices were at lower levels as demand is not picking up from stockists and oil mill.
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