New Delhi, October 8 (Commoditiescontrol) — Mentha oil prices experienced a decline on Tuesday due to sluggish buying activity and bearish signals from futures markets.
In Chandausi, mentha oil prices fell by Rs 5, settling at Rs 977-979 per kg, while in Barabanki, prices dropped by Rs 5 to Rs 932 per kg.
On the Multi Commodity Exchange (MCX), the October futures contract for mentha oil saw a decrease of Rs 11.4, trading at Rs 913 per kg, with an open interest of 579 and a trading volume of 100. The November futures contract also fell by Rs 2.8, priced at Rs 930 per kg, accompanied by an open interest of 233 and a volume of 35.
The overall market sentiment remains cautious as weak demand and bearish futures continue to exert downward pressure on mentha oil prices.
Mentha Oil contract for OCT delivery settled at Rs 913/quintal showing an fall of Rs -11.4 over previous close of Rs 924.4/quintal,The contract moved in the range of Rs 912-929.8 for the day. Open interest increased by 9 MT to 579 MT, while trading volume decreased by -65 to 100 MT.
Mentha Oil contract for NOV delivery settled at Rs 930/quintal showing an fall of Rs -2.8 over previous close of Rs 932.8/quintal,The contract moved in the range of Rs 930-941.9 for the day. Open interest increased by 12 MT to 233 MT, while trading volume increased by 26 to 35 MT.
Mentha Oil contract for DEC delivery settled at Rs 950/quintal showing an rise of Rs 3 over previous close of Rs 947/quintal,The contract moved in the range of Rs 948-955 for the day. Open interest increased by 8 MT to 11 MT, while trading volume increased by 6 to 9 MT.
Currently The spread between OCT and NOV contract is -17 Rs/quintal.
Currently The spread between NOV and DEC contract is -20 Rs/quintal.
Currently The spread between OCT and DEC contract is -37 Rs/quintal
(By Commoditiescontrol Bureau: +91 9820130172)
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