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Mentha Oil Spot Prices Show Mixed Trends

7 Nov 2024 5:42 pm
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New Delhi, November 7 (CommoditiesControl): The mentha oil spot market saw a mixed performance today, with prices showing slight fluctuations in key trading centers. In major markets like Rampur and Chandausi, spot prices for good-quality mentha oil remained in the range of Rs 900 to Rs 920 per kg, reflecting a minor correction from the highs seen earlier in the season. Demand has moderated following the Diwali festivities, leading to a slowdown in trading activity.

While there was steady demand from the pharmaceutical, cosmetic, and aromatherapy industries, the pace of orders was slower compared to the pre-festive rush. Supplies from the earlier crop are still available in warehouses, with traders awaiting the start of the 2024 mentha harvest. This harvest is expected to influence supply dynamics in the coming weeks.

Overall market sentiment was neutral to slightly bearish, with traders cautious ahead of the new crop’s arrival. Prices in Rampur, Chandausi, Bareilly, and Shahjahanpur showed a similar trend, holding steady in the Rs 900 to Rs 920 per kg range.

Looking ahead, the mentha oil spot market is expected to remain range-bound as traders await further clarity on the harvest and demand conditions in the coming months. The arrival of the new crop and shifting demand from both domestic and export markets will be key factors shaping price movement in the near term.

Mentha Oil contract for NOV delivery settled at Rs 914.8/quintal showing an fall of Rs -13.2 over previous close of Rs 928/quintal,The contract moved in the range of Rs 913-930 for the day. Open interest decreased by -17 MT to 603 MT, while trading volume increased by 82 to 143 MT.

Mentha Oil contract for DEC delivery settled at Rs 929.7/quintal showing an fall of Rs -13.4 over previous close of Rs 943.1/quintal,The contract moved in the range of Rs 929-943 for the day. Open interest increased by 2 MT to 180 MT, while trading volume increased by 5 to 13 MT.

Mentha Oil contract for JAN delivery settled at Rs 975/quintal showing an was simillar of Rs 0 over previous close of Rs 975/quintal,The contract moved in the range of Rs 975-975 for the day. Open interest was simillar by 0 MT to 0 MT, while trading volume was simillar by 0 to 0 MT.

Currently The spread between NOV and DEC contract is -14.9000000000001 Rs/quintal.

Currently The spread between DEC and JAN contract is -45.3 Rs/quintal.

Currently The spread between NOV and JAN contract is -60.2 Rs/quintal.


(By Commoditiescontrol Bureau: +91 9820130172)


       
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