New Delhi, September 5 (Commoditiescontrol): Mentha oil prices experienced a notable decline on Thursday due to subdued demand and profit-booking activities. In the physical markets, prices fell by over 1%, reflecting a broader trend of weakening in the sector.
In Chandausi, mentha oil prices decreased by Rs 11, settling between Rs 1,015 and Rs 1,017 per kilogram. Similarly, in Barabanki, prices dropped by Rs 7, reaching Rs 958 per kilogram.
In the futures market, September contracts for mentha oil at the Multi Commodity Exchange (MCX) fell by Rs 13.60, closing at Rs 955.80 per kilogram. This contract recorded an open interest of 648 and a trading volume of 112. October futures also saw a decline, with prices dropping Rs 16.20 to Rs 970.30 per kilogram, accompanied by an open interest of 240 and a volume of 20.
The drop in prices is attributed to weak buying interest and strategic profit-booking by investors, signaling a cautious outlook in the mentha oil market.
Mentha Oil contract for SEP delivery settled at Rs 955.8/quintal showing an fall of Rs -13.6 over previous close of Rs 969.4/quintal,The contract moved in the range of Rs 952.1-973 for the day. Open interest increased by 7 MT to 648 MT, while trading volume decreased by -62 to 112 MT
Mentha Oil contract for OCT delivery settled at Rs 970.3/quintal showing an fall of Rs -16.2 over previous close of Rs 986.5/quintal,The contract moved in the range of Rs 970.3-986 for the day. Open interest decreased by -3 MT to 240 MT, while trading volume decreased by -23 to 20 MT.
Mentha Oil contract for NOV delivery settled at Rs 980/quintal showing an fall of Rs -18.6 over previous close of Rs 998.6/quintal,The contract moved in the range of Rs 980-991.6 for the day. Open interest increased by 1 MT to 29 MT, while trading volume decreased by -21 to 2 MT.
Currently The spread between SEP and OCT contract is -14.5 Rs/quintal.
Currently The spread between OCT and NOV contract is -9.70000000000005 Rs/quintal.
Currently The spread between SEP and NOV contract is -24.2 Rs/quintal
(By Commoditiescontrol Bureau: +91 9820130172)
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