Mentha Oil Prices Decline Further on Sluggish Demand

New Delhi, August 9 (Commodities Control): Mentha oil prices continued to decline on Friday due to weak export demand. Both physical market prices and futures saw a drop, driven by bearish sentiment in the market. Although local buyers showed some interest at lower levels, the overall demand, particularly from exporters, remained subdued, according to traders.

In the physical market, mentha oil prices fell by INR 5, trading at INR 1,010-1,012 per kg in Chandausi, and at INR 965 per kg in Barabanki.

In the futures market, the mentha oil contract for August delivery decreased by INR 2.30 or 0.23%, closing at INR 977.20 per kg on the Multi Commodity Exchange (MCX). This contract saw an open interest of 714 and a trading volume of 264.

Similarly, the September delivery contract dropped by INR 3.80 or 0.38%, settling at INR 1,010.80 per kg on the MCX, with an open interest of 241 and a trading volume of 54.

Mentha Oil contract for AUG delivery settled at Rs 977.2/quintal showing an fall of Rs -7.1 over previous close of Rs 984.3/quintal,The contract moved in the range of Rs 975.1-994.7 for the day. Open interest decreased by -8 MT to 714 MT, while trading volume decreased by -75 to 264 MT.

Mentha Oil contract for SEP delivery settled at Rs 992/quintal showing an fall of Rs -5.3 over previous close of Rs 997.3/quintal,The contract moved in the range of Rs 991-1010.8 for the day. Open interest increased by 8 MT to 241 MT, while trading volume decreased by -21 to 54 MT.

Mentha Oil contract for OCT delivery settled at Rs 1010.9/quintal showing an fall of Rs -8.1 over previous close of Rs 1019/quintal,The contract moved in the range of Rs 1010.9-1019.9 for the day. Open interest increased by 6 MT to 33 MT, while trading volume decreased by -3 to 9 MT.

Currently The spread between AUG and SEP contract is -14.8 Rs/quintal.

Currently The spread between SEP and OCT contract is -18.9 Rs/quintal

Currently The spread between AUG and OCT contract is -33.6999999999999 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)