New Delhi, September 9 (CommoditiesControl): Spot mentha oil prices held nearly flat in the physical markets on Monday, while futures contracts experienced a decline amid profit-taking activities. Analysts attribute the stability in physical prices to currently weak demand from both local buyers and exporters.
In Chandausi, mentha oil prices remained steady at Rs 1011-1013 per kilogram. Similarly, prices in Barabanki were quoted flat at Rs 965 per kilogram.
In futures trading on the Multi Commodity Exchange (MCX), the September delivery contract fell by Rs 7.20 to Rs 952.80 per kilogram, with an open interest of 607 and a trading volume of 161. The October delivery contract decreased by Rs 2.10 to Rs 972 per kilogram, with an open interest of 254 and a trading volume of 20.
The current weak demand scenario and the decline in futures suggest a cautious outlook for mentha oil prices in the near term.
Mentha Oil contract for SEP delivery settled at Rs 952.8/quintal showing an fall of Rs -7.2 over previous close of Rs 960/quintal,The contract moved in the range of Rs 950-968.8 for the day. Open interest decreased by -9 MT to 607 MT, while trading volume increased by 54 to 161 MT.
Mentha Oil contract for OCT delivery settled at Rs 972/quintal showing an fall of Rs -2.1 over previous close of Rs 974.1/quintal,The contract moved in the range of Rs 969.3-983 for the day. Open interest increased by 3 MT to 254 MT, while trading volume decreased by -6 to 20 MT
Mentha Oil contract for NOV delivery settled at Rs 984.9/quintal showing an rise of Rs 0.1 over previous close of Rs 984.8/quintal,The contract moved in the range of Rs 981.7-994 for the day. Open interest increased by 3 MT to 35 MT, while trading volume increased by 7 to 15 MT.
Currently The spread between SEP and OCT contract is -19.2 Rs/quintal.
Currently The spread between OCT and NOV contract is -12.9 Rs/quintal.
Currently The spread between SEP and NOV contract is -32.1 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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