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Mentha Oil Prices Rise on Improved Buying

9 Oct 2024 5:46 pm
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New Delhi, October 9 (CommoditiesControl): Mentha oil prices saw a modest increase in both the physical and futures markets on Wednesday, driven by improved lower-level buying.

In Chandausi, mentha oil prices were quoted at Rs 980-982 per kg, marking an increase of Rs 3. Similarly, in Barabanki, prices rose by Rs 3 to reach Rs 935 per kg.

On the futures front, the October contract for mentha oil at the Multi Commodity Exchange (MCX) gained Rs 2.4, trading at Rs 916 per kg, with an open interest of 556 and a trading volume of 80. The November contract also saw a slight increase of Rs 0.6, reaching Rs 931.9 per kg, with an open interest of 233 and a volume of 241.

The uptick in prices indicates a positive shift in demand dynamics, suggesting potential for further gains if buying continues to improve.

Mentha Oil contract for OCT delivery settled at Rs 916/quintal showing an rise of Rs 2.4 over previous close of Rs 913.6/quintal,The contract moved in the range of Rs 910.6-916.9 for the day. Open interest decreased by -23 MT to 556 MT, while trading volume decreased by -20 to 80 MT.
Mentha Oil contract for NOV delivery settled at Rs 931.9/quintal showing an rise of Rs 0.6 over previous close of Rs 931.3/quintal,The contract moved in the range of Rs 929.7-933.3 for the day. Open interest increased by 8 MT to 241 MT, while trading volume decreased by -12 to 23 MT.

Mentha Oil contract for DEC delivery settled at Rs 942/quintal showing an fall of Rs -9.2 over previous close of Rs 951.2/quintal,The contract moved in the range of Rs 942-945 for the day. Open interest increased by 5 MT to 16 MT, while trading volume decreased by -4 to 5 MT.

Currently The spread between OCT and NOV contract is -15.9 Rs/quintal.

Currently The spread between NOV and DEC contract is -10.1 Rs/quintal.

Currently The spread between OCT and DEC contract is -26 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)

       
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