Mentha Oil Prices See Steady Drop as Export Demand Fades

New Delhi, November 14 (Commodities Control): Mentha oil prices have seen some fluctuations in the spot markets, particularly with steady declines due to long liquidation and reduced demand.

As of the latest reports, mentha oil prices at Sambhal closed at INR 1,125.30 per kilogram, marking a decrease of INR 14.90. The market sentiment remains under pressure with the demand weakening at the spot level, even though there is adequate stock availability due to higher supplies from producing regions. Spot arrivals also showed a slight increase in places like Sambhal, Rampur, and Bareilly.

The production area for mentha oil has reportedly decreased by about 20%, which could help sustain some level of pricing stability. However, the broader market trend seems to be one of caution as demand remains tepid, particularly in export markets.

While stock levels are sufficient, the domestic industry is reluctant to purchase at current prices, and market participants expect this downward trend to continue unless there’s a significant shift in demand or export trends.

Mentha Oil contract for NOV delivery settled at Rs 932.5/quintal showing an rise of Rs 16.9 over previous close of Rs 915.6/quintal,The contract moved in the range of Rs 912.5-939.5 for the day. Open interest decreased by -29 MT to 541 MT, while trading volume increased by 126 to 182 MT.

Mentha Oil contract for DEC delivery settled at Rs 944.5/quintal showing an rise of Rs 15.2 over previous close of Rs 929.3/quintal,The contract moved in the range of Rs 928-948 for the day. Open interest increased by 17 MT to 208 MT, while trading volume increased by 29 to 37 MT

Mentha Oil contract for JAN delivery settled at Rs 945/quintal showing an fall of Rs -30 over previous close of Rs 975/quintal,The contract moved in the range of Rs 945-945 for the day. Open interest increased by 1 MT to 1 MT, while trading volume increased by 1 to 1 MT.
Currently The spread between NOV and DEC contract is -12 Rs/quintal.

Currently The spread between DEC and JAN contract is -0.5 Rs/quintal.

Currently The spread between NOV and JAN contract is -12.5 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)