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Mentha Oil Prices Flat in Spot Market, Futures Mixed

21 May 2024 7:41 pm
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New Delhi, May 21 (Commoditiescontrol): Mentha oil prices remained nearly flat in the spot market, while futures showed mixed trends at the local bourse on Tuesday. The current month's future contract of mentha oil edged slightly higher, while the front month contract saw a minor decline. Physical market activity was subdued due to negligible carryover stocks, with a fresh crop expected to hit the market within a month.

In the market of Chandausi, mentha oil prices fell by Rs 2, settling at Rs 1000-1002 per kg. Similarly, in the market of Barabanki, prices dropped by Rs 2 to Rs 968 per kg.

The mentha oil future contract for delivery in May traded up by Rs 1.7, closing at Rs 927 per kg on the Multi Commodity Exchange (MCX), with an open interest of 281 and a volume of 155.

The mentha oil future contract for delivery in June traded down by Rs 1.5, settling at Rs 938.2 per kg on the MCX, with an open interest of 336 and a volume of 136.

The flat trend in the spot market is attributed to the anticipation of the new crop and limited carryover stocks, resulting in subdued market activities.

Mentha Oil contract for MAY delivery settled at Rs 927/quintal showing an rise of Rs 1.7 over previous close of Rs 925.3/quintal,The contract moved in the range of Rs 914.5-935.6 for the day. Open interest decreased by -34 MT to 281 MT, while trading volume increased by 105 to 155 MT.

Mentha Oil contract for JUNE delivery settled at Rs 938.2/quintal showing an fall of Rs -1.5 over previous close of Rs 939.7/quintal,The contract moved in the range of Rs 933.1-944.9 for the day. Open interest increased by 16 MT to 336 MT, while trading volume increased by 82 to 136 MT.

Mentha Oil contract for JUL delivery settled at Rs 950.6/quintal showing an was simillar of Rs 0 over previous close of Rs 950.6/quintal,The contract moved in the range of Rs 950.6-950.6 for the day. Open interest was simillar by 0 MT to 12 MT, while trading volume decreased by -2 to 0 MT.

Currently The spread between MAY and JUNE contract is -11.2 Rs/quintal.

Currently The spread between JUNE and JUL contract is -12.4 Rs/quintal.

Currently The spread between MAY and JUL contract is -23.6 Rs/quintal.


       
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