New Delhi, August 2 (Commoditiescontrol): Mentha oil prices rose sharply on Friday, extending gains for a third consecutive session due to strong demand. The surge in prices is attributed to robust demand from the overseas market and lower-than-expected production, according to market analysts.
In Chandausi, mentha oil prices were quoted Rs 20 higher at Rs 1030-1032 per kg. In Barabanki, prices rose by Rs 22 to Rs 980 per kg.
On the Multi Commodity Exchange (MCX), mentha oil futures for August delivery increased by Rs 25.6, reaching Rs 1006 per kg, with an open interest of 802 and a volume of 553.
Mentha oil futures for September delivery rose by Rs 31.6 to Rs 1023.1 per kg on the MCX, with an open interest of 174 and a volume of 51.
The sustained price increase is driven by strong demand coupled with lower-than-anticipated production levels, fueling a bullish trend in the mentha oil market.
Mentha Oil contract for JUL delivery settled at Rs 0/quintal showing an was simillar of Rs 0 over previous close of Rs 0/quintal,The contract moved in the range of Rs 0-0 for the day. Open interest decreased by -22 MT to 0 MT, while trading volume was simillar by 0 to 0 MT.
Mentha Oil contract for AUG delivery settled at Rs 1006/quintal showing an rise of Rs 25.6 over previous close of Rs 980.4/quintal,The contract moved in the range of Rs 984.5-1014 for the day. Open interest increased by 69 MT to 802 MT, while trading volume increased by 256 to 553 MT.
Mentha Oil contract for SEP delivery settled at Rs 1023.1/quintal showing an rise of Rs 31.6 over previous close of Rs 991.5/quintal,The contract moved in the range of Rs 1000-1027.5 for the day. Open interest increased by 10 MT to 174 MT, while trading volume increased by 28 to 51 MT.
Currently The spread between JUL and AUG contract is -1006 Rs/quintal.
Currently The spread between AUG and SEP contract is -17.1 Rs/quintal.
Currently The spread between JUL and SEP contract is -1023.1 Rs/quintal
(By Commoditiescontrol Bureau: +91 9820130172)
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