New Delhi, May 23 (Commoditiescontrol): Mentha oil prices continued to show upward trend in the spot market for the third consecutive session on Thursday, while futures remained nearly flat. According to traders, the market is currently focused on the arrival of fresh crops, as existing stocks are nearly depleted. However, demand for natural mentha from both local and overseas markets remains subdued.
In Chandausi, mentha oil prices increased by Rs 2, reaching Rs 1007-1009 per kg. Similarly, in Barabanki, prices rose by Rs 3, settling at Rs 975 per kg.
On the futures front, the mentha oil contract for May delivery traded marginally down by Rs 0.4, at Rs 929.7 per kg on the Multi Commodity Exchange (MCX), with an open interest of 217 and a trading volume of 66.
The June delivery contract also saw a slight decrease, trading down by Rs 0.5 at Rs 942.9 per kg on the MCX, with an open interest of 358 and a trading volume of 59.
Despite the recent gains in the spot market, the futures market shows a lack of significant movement, indicating a cautious sentiment among traders as they await new crop arrivals and clearer demand signals from both domestic and international buyers.
Mentha Oil contract for MAY delivery settled at Rs 929.7/quintal showing an fall of Rs -0.4 over previous close of Rs 930.1/quintal,The contract moved in the range of Rs 916.5-935 for the day. Open interest decreased by -33 MT to 217 MT, while trading volume increased by 11 to 66 MT.
Mentha Oil contract for JUNE delivery settled at Rs 942.9/quintal showing an fall of Rs -0.5 over previous close of Rs 943.4/quintal,The contract moved in the range of Rs 936.6-943 for the day. Open interest increased by 7 MT to 358 MT, while trading volume increased by 22 to 59 MT.
Mentha Oil contract for JUL delivery settled at Rs 950.6/quintal showing an was simillar of Rs 0 over previous close of Rs 950.6/quintal,The contract moved in the range of Rs 950.6-950.6 for the day. Open interest was simillar by 0 MT to 12 MT, while trading volume was simillar by 0 to 0 MT.
Currently The spread between MAY and JUNE contract is -13.1999999999999 Rs/quintal.
Currently The spread between JUNE and JUL contract is -7.70000000000005 Rs/quintal.
Currently The spread between MAY and JUL contract is -20.9 Rs/quintal
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