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Spot Mentha Oil Moves in Narrow Range amid Sluggish Demand

24 Sep 2021 4:59 pm
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NEW DELHI, Sept 24 (Commoditiescontrol) - Mentha oil traded in a limited range at major markets in western Uttar Pradesh on Friday with mixed trend in prices. Mentha oil was up by Rs 5 in Barabanki while softened slightly in Chandausi. The prices in Rampur and Sambhal remained the same as yesterday. According to traders, the contracts of mentha oil in futures moved in a narrow range, due to which there is no major volatility in the spot prices.

According to trade sources, limited movement in the price indicates that traders are losing interest in the commodity. The producer is also not keen on selling at lower prices. On the other hand, demand from processing units is weak.

The gross rate of Mentha oil is being sold at Rs 1040 per kg in Rampur and Rs 1032 per kg in Sambhal. Gross rate is increasing by Rs 5 to Rs 1065 in Barabanki and falling by Rs 4 to Rs 1088 per kg in Chandausi. Net price of Mentha oil in Rampur (6 percent cut) was Rs 980, in Sambhal (5 percent cut) Rs 982, in Chandausi (10.5 percent cut) Rs 983 and in Barabanki (9 percent cut) Rs 975 per kg. In the last trading session, the gross rate of Mentha oil was Rs 1040 in Rampur, Rs 1032 in Sambhal, Rs 1092 in Chandausi and Rs 1060 per kg in Barabanki.

On the Multi Commodity Exchange (MCX), mentha oil contract for the October delivery was trading lower by Rs 1.4 at Rs Rs 935.90 per kg, after moving in the range of Rs 941 and Rs 933.40 per kg, having an open interest of 1,221 lots. November contract also traded weak by Rs 3.60 at Rs 948.30 per kg.

(By Commoditiescontrol Bureau: +91-22-40015505)

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