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Mentha Oil Prices Hold Firm with Improved Buying Activity

16 Apr 2024 5:29 pm
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New Delhi, April 16 (Commoditiescontrol): Mentha oil prices remained firm on Tuesday, supported by increased buying activity at lower levels. However, prices witnessed minimal changes overall. Traders attribute the ample supply of synthetic mentha as the primary reason behind the sluggish demand for natural mentha. Additionally, local industrial demand for mentha oil remains weak. Despite this, the market sees some support at lower levels due to the low balance stocks of mentha oil.

In Chandausi market, mentha oil prices were quoted at Rs 10120-1022 per kg, while in Barabanki market, prices stood at Rs 985 per kg.

At the Multi Commodity Exchange (MCX), the benchmark contract of mentha oil for April delivery was trading Rs 3.8 higher at Rs 908.2 per kg, with open interest at 424 and a volume of 91.

Mentha Oil contract for APR delivery settled at Rs 908.2/quintal showing an rise of Rs 3.8 over previous close of Rs 904.4/quintal,The contract moved in the range of Rs 900.1-914 for the day. Open interest decreased by -11 MT to 424 MT, while trading volume increased by 42 to 91 MT.
Mentha Oil contract for MAY delivery settled at Rs 924/quintal showing an rise of Rs 7.4 over previous close of Rs 916.6/quintal,The contract moved in the range of Rs 914.3-924 for the day. Open interest increased by 1 MT to 154 MT, while trading volume increased by 12 to 26 MT.
Mentha Oil contract for JUNE delivery settled at Rs 927.5/quintal showing an rise of Rs 5.8 over previous close of Rs 921.7/quintal,The contract moved in the range of Rs 920.6-927.5 for the day. Open interest increased by 9 MT to 146 MT, while trading volume increased by 11 to 15 MT.

Currently The spread between APR and MAY contract is -15.8 Rs/quintal.

Currently The spread between MAY and JUNE contract is -3.5 Rs/quintal.

Currently The spread between APR and JUNE contract is -19.3 Rs/quintal.






(By Commoditiescontrol Bureau: +91 9820130172)

       
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