New Delhi, May 13 (Commoditiescontrol): Mentha oil prices experienced a downturn on Monday, attributed to sluggish demand both domestically and internationally. The decline was evident in both the spot market and futures trading, reflecting subdued interest from local industries and overseas markets.
In Chandausi market, mentha oil prices were quoted at Rs 1012-1014 per kilogram, while in Barabanki, prices stood at Rs 982 per kilogram. Spot prices registered a decline of Rs 2 per kilogram today.
At the MCX, the future contract for delivery in May witnessed a marginal increase of Rs 3.6, trading at Rs 957.9 per kilogram. Meanwhile, the June delivery contract recorded a decline of Rs 4, trading at Rs 964.5 per kilogram. Open interest for the May contract was noted at 376, with a trading volume of 112. For the June contract, open interest stood at 330, with a trading volume of 24.
The subdued demand scenario continues to weigh on mentha oil prices, signaling a cautious market sentiment among traders and investors.
Mentha Oil contract for MAY delivery settled at Rs 957.9/quintal showing an fall of Rs -3.6 over previous close of Rs 961.5/quintal,The contract moved in the range of Rs 946-973.5 for the day. Open interest increased by 18 MT to 376 MT, while trading volume increased by 27 to 112 MT.
Mentha Oil contract for JUNE delivery settled at Rs 964.5/quintal showing an fall of Rs -4 over previous close of Rs 968.5/quintal,The contract moved in the range of Rs 961.3-973 for the day. Open interest increased by 22 MT to 330 MT, while trading volume increased by 15 to 24 MT.
Mentha Oil contract for JUL delivery settled at Rs 971/quintal showing an fall of Rs -3.8 over previous close of Rs 974.8/quintal,The contract moved in the range of Rs 971-980 for the day. Open interest increased by 5 MT to 8 MT, while trading volume increased by 1 to 4 MT.
Currently The spread between MAY and JUNE contract is -6.60000000000002 Rs/quintal.
Currently The spread between JUNE and JUL contract is -6.5 Rs/quintal
Currently The spread between MAY and JUL contract is -13.1 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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