Mustard seed futures closed higher last week due to lower level buying and pickup in industrial demand. The Nov’16 contract ended 0.29% higher last week to settle at Rs. 4,549/quintal. 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. The country's production of rapeseed is expected to increase by 12.5% to 6.3 mt from a year earlier. There is expectation of higher production in the next season, which encourage traders to sell their stored mustard.
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