Mentha Oil Prices Remain Firm Amid Improved Buying

New Delhi, April 30 (Commoditiescontrol): Mentha oil prices saw gains both in the physical market and futures trading on Tuesday, buoyed by increased buying at lower levels. Despite this, demand for mentha oil from both local industries and overseas markets remains sluggish, attributed to ample supply of synthetic mint products.

In Chandausi, mentha oil prices rose by Rs 5 to reach Rs 1012-1014 per kg. Similarly, in Barabanki, prices were quoted at Rs 978 per kg.

On the futures front, mentha oil futures for April delivery at the Multi Commodity Exchange (MCX) were trading Rs 2.8 lower at Rs 910 per kg, with an open interest of 37 and a volume of 56. Meanwhile, the future contract for May delivery was trading Rs 6.6 higher at Rs 921.8 per kg, with an open interest of 379 and a volume of 112.

Although improved buying activity supported the market, the prevailing weak demand from both local and international markets, attributed to the abundance of synthetic mint products, continues to influence the market sentiment.

Mentha Oil contract for APR delivery settled at Rs 910/quintal showing an fall of Rs -2.8 over previous close of Rs 912.8/quintal,The contract moved in the range of Rs 900-910 for the day. Open interest decreased by -46 MT to 37 MT, while trading volume increased by 47 to 56 MT.

Mentha Oil contract for MAY delivery settled at Rs 921.8/quintal showing an rise of Rs 6.6 over previous close of Rs 915.2/quintal,The contract moved in the range of Rs 910-921.8 for the day. Open interest increased by 15 MT to 379 MT, while trading volume increased by 4 to 112 MT.

Mentha Oil contract for JUNE delivery settled at Rs 922.1/quintal showing an rise of Rs 3.2 over previous close of Rs 918.9/quintal,The contract moved in the range of Rs 910-923 for the day. Open interest increased by 1 MT to 270 MT, while trading volume decreased by -35 to 15 MT

Currently The spread between APR and MAY contract is -11.8 Rs/quintal.

Currently The spread between MAY and JUNE contract is -0.300000000000068 Rs/quintal.

Currently The spread between APR and JUNE contract is -12.1 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)