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Mentha Oil Prices Dip Sharply Due to Weak Demand

3 Oct 2024 5:37 pm
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New Delhi, October 3 (Commoditiescontrol): Mentha oil prices experienced a significant decline on Thursday, driven by poor demand from both domestic and overseas markets. Traders have indicated that cheaper imports of synthetic mentha products are adversely impacting the demand for natural mentha oil, contributing to a downturn in export opportunities as well.

Current market prices for mentha oil are reported as follows:
- Chandausi: Rs 982-984 per kg
- Barabanki: Rs 940 per kg

In futures trading, the October contract for mentha oil on the Multi Commodity Exchange (MCX) fell by Rs 9.7, settling at Rs 925.1 per kg, with an open interest of 594 and a trading volume of 153 contracts. The November contract also saw a decline, dropping Rs 11 to Rs 938.5 per kg, with an open interest of 208 and a volume of 20 contracts.

Mentha Oil contract for SEP delivery settled at Rs 925.1/quintal showing an fall of Rs -9.7 over previous close of Rs 934.8/quintal,The contract moved in the range of Rs 924.6-932.4 for the day. Open interest increased by 550 MT to 594 MT, while trading volume increased by 153 to 153 MT.

Mentha Oil contract for OCT delivery settled at Rs 938.5/quintal showing an fall of Rs -11 over previous close of Rs 949.5/quintal,The contract moved in the range of Rs 938.5-944.7 for the day. Open interest decreased by -435 MT to 208 MT, while trading volume decreased by -60 to 20 MT

Mentha Oil contract for NOV delivery settled at Rs 960/quintal showing an fall of Rs -5 over previous close of Rs 960/quintal,The contract moved in the range of Rs 960-960 for the day. Open interest decreased by -203 MT to 1 MT, while trading volume decreased by -14 to 0 MT.

Currently The spread between SEP and OCT contract is -13.4 Rs/quintal.

Currently The spread between OCT and NOV contract is -21.5 Rs/quintal.

Currently The spread between SEP and NOV contract is -34.9 Rs/quintal.


(By Commoditiescontrol Bureau: +91 9820130172)


       
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