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Mentha Oil Prices Flat in Physical Market Amid Slow Demand, Futures Plunge on Bearish Outlook

16 May 2024 6:07 pm
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New Delhi, May 16 (Commoditiescontrol) – Mentha oil prices remained largely unchanged in the physical market on Thursday due to subdued demand and supply, while futures experienced a sharp decline fueled by a bearish sentiment. Market analysts predict higher-than-anticipated mentha oil production, citing favorable crop conditions that point to a potentially improved yield.

Prices in Chandausi held steady at Rs 1008-1010 per kg, mirroring the flat trend observed in Barabanki, where mentha oil was quoted at Rs 978 per kg.

Mentha Oil contract for MAY delivery settled at Rs 932/quintal showing an fall of Rs -20.7 over previous close of Rs 952.7/quintal,The contract moved in the range of Rs 932-954 for the day. Open interest decreased by -29 MT to 334 MT, while trading volume increased by 65 to 114 MT.

Mentha Oil contract for JUNE delivery settled at Rs 948/quintal showing an fall of Rs -16.5 over previous close of Rs 964.5/quintal,The contract moved in the range of Rs 948-964.2 for the day. Open interest decreased by -4 MT to 351 MT, while trading volume increased by 44 to 66 MT.

Mentha Oil contract for JUL delivery settled at Rs 960/quintal showing an fall of Rs -17.7 over previous close of Rs 977.7/quintal,The contract moved in the range of Rs 960-968.5 for the day. Open interest increased by 2 MT to 11 MT, while trading volume increased by 2 to 2 MT.

Currently The spread between MAY and JUNE contract is -16 Rs/quintal.

Currently The spread between JUNE and JUL contract is -12 Rs/quintal.

Currently The spread between MAY and JUL contract is -28 Rs/quintal.


(By Commoditiescontrol Bureau: +91 9820130172)


       
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