Mentha Oil Market Continues Its Rally

New Delhi, July 5 (CommoditiesControl):** The mentha oil market extended its week-long rally on Friday, marking the fifth consecutive day of price gains. Analysts attribute this surge to robust demand amidst expectations of a lower crop yield this year.

In Chandausi, mentha oil prices increased by Rs 7-10, reaching Rs 1005-1010 per kg. Similarly, in Barabanki, prices rose by Rs 10, now standing at Rs 970 per kg.

On the Multi Commodity Exchange (MCX), the mentha oil futures contract for July delivery climbed by Rs 15.6 to Rs 998.4 per kg, with an open interest of 633 and a trading volume of 539. The August delivery contract also saw a rise, increasing by Rs 13.7 to Rs 997 per kg, with an open interest of 131 and a volume of 45.

Mentha Oil contract for JUL delivery settled at Rs 984/quintal showing an rise of Rs 15.9 over previous close of Rs 968.1/quintal,The contract moved in the range of Rs 972-993.5 for the day. Open interest increased by 36 MT to 633 MT, while trading volume increased by 162 to 539 MT.

Mentha Oil contract for AUG delivery settled at Rs 997/quintal showing an rise of Rs 13.7 over previous close of Rs 983.3/quintal,The contract moved in the range of Rs 990-1004.8 for the day. Open interest increased by 23 MT to 131 MT, while trading volume increased by 21 to 45 MT.

Mentha Oil contract for SEP delivery settled at Rs 1008/quintal showing an rise of Rs 29.9 over previous close of Rs 978.1/quintal,The contract moved in the range of Rs 1006-1017.1 for the day. Open interest increased by 7 MT to 11 MT, while trading volume increased by 12 to 17 MT.

Currently The spread between JUL and AUG contract is -13 Rs/quintal.

Currently The spread between AUG and SEP contract is -11 Rs/quintal.

Currently The spread between JUL and SEP contract is -24 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)