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Mentha Oil Spot Prices Hold Steady; Futures Decline

23 Feb 2024 6:06 pm
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New Delhi, Feb 23 (Commoditiescontrol): Mentha oil prices demonstrated a marginal change in the spot market, remaining nearly flat, while the futures market experienced a downturn on Friday. According to market reports, the demand for mentha oil witnessed a decline in the physical market.

In Chandausi market, mentha oil prices were reported to be in the range of Rs 998-1000 per kg, reflecting minimal fluctuations. On the other hand, prices in the Barabanki market were noted at Rs 975 per kg.

The benchmark contract for Mentha oil, scheduled for delivery in February, observed a decrease of Rs 3.8, trading at Rs 902.4 per kg at the Multi Commodity Exchange (MCX). The contract recorded an open interest of 199 and a trading volume of 197.

The benchmark contract for Mentha oil, set for delivery in March, also witnessed a decline of Rs 2.8, trading at Rs 914.8 per kg at the MCX. The contract displayed an open interest of 599 and a trading volume of 279.

Overall, the fluctuations were noted due to subdued spot market demand that caused flatness in spot prices. The futures market, however, has experienced a downturn, possibly influenced by broader market trends.

Mentha Oil contract for FEB delivery settled at Rs 902.4/quintal showing an fall of Rs -3.8 over previous close of Rs 906.2/quintal,The contract moved in the range of Rs 899.2-910 for the day. Open interest decreased by -321 MT to 199 MT, while trading volume decreased by -25 to 197 MT.
Mentha Oil contract for MAR delivery settled at Rs 914.8/quintal showing an fall of Rs -2.4 over previous close of Rs 917.2/quintal,The contract moved in the range of Rs 913-921.9 for the day. Open interest increased by 264 MT to 599 MT, while trading volume increased by 82 to 279 MT.

Mentha Oil contract for MAR delivery settled at Rs 914.8/quintal showing an fall of Rs -2.4 over previous close of Rs 917.2/quintal,The contract moved in the range of Rs 913-921.9 for the day. Open interest increased by 264 MT to 599 MT, while trading volume increased by 82 to 279 MT

Currently The spread between FEB and MAR contract is -12.4 Rs/quintal.

Currently The spread between MAR and MAR contract is 0 Rs/quintal.

Currently The spread between FEB and MAR contract is -12.4 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)


       
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