Mentha Oil Prices Decline on Sluggish Demand

New Delhi, April 18 (Commoditiescontrol) - Mentha oil prices witnessed a decline on Thursday due to sluggish demand. Both the spot market and futures prices experienced a downturn today. Futures prices particularly showed weakness amid expectations of improved crop conditions, fueled by better-than-expected acreage of mentha this year.

Additionally, the availability of cheaper synthetic mint products has dampened demand for natural produce. Analysts note that local industrial buying and export demand for natural Indian produce remain very poor.

In Chandausi market, mentha oil prices were quoted at Rs 1,013-1,015 per kg, while in Barabanki, prices were quoted at Rs 980 per kg.

The benchmark contract of Mentha oil for delivery in April was trading Rs 11.6 lower at Rs 898 per kg at the Multi Commodity Exchange (MCX), with open interest of 413 and volume of 97.

Mentha Oil contract for APR delivery settled at Rs 898/quintal showing an fall of Rs -11.6 over previous close of Rs 909.6/quintal,The contract moved in the range of Rs 898-911.7 for the day. Open interest decreased by -11 MT to 413 MT, while trading volume increased by 6 to 97 MT.

Mentha Oil contract for MAY delivery settled at Rs 908/quintal showing an fall of Rs -10.3 over previous close of Rs 918.3/quintal,The contract moved in the range of Rs 908-921.4 for the day. Open interest increased by 8 MT to 162 MT, while trading volume decreased by -8 to 18 MT

Mentha Oil contract for JUNE delivery settled at Rs 909/quintal showing an fall of Rs -14.8 over previous close of Rs 923.8/quintal,The contract moved in the range of Rs 908-926 for the day. Open interest decreased by -3 MT to 143 MT, while trading volume increased by 29 to 44 MT.

Currently The spread between APR and MAY contract is -10 Rs/quintal.

Currently The spread between MAY and JUNE contract is -1 Rs/quintal.

Currently The spread between APR and JUNE contract is -11 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)