New Delhi, Feb 7 (Commodities Control): Mentha oil prices witnessed a decline in both the physical market and futures on Wednesday, influenced by sluggish demand and supply dynamics. According to trade sources, the demand for mentha oil is currently subdued from domestic industries as well as in the futures market. Despite the support provided by low current stocks, industrial demand remains notably negligible, as reported by a trade analyst.
In Chandausi market, mentha oil prices were reported at Rs 995-997 per kg, reflecting the downward trend. Similarly, in the Barabanki market, prices stood at Rs 965 per kg.
The benchmark contract for Mentha oil with delivery in February recorded a decline of Rs 4.8, trading at Rs 911 per kg on the Multi Commodity Exchange (MCX). The open interest was reported at 824, with a trading volume of 34.
The current market conditions highlight the impact of weakened demand from both domestic industries and the futures market on mentha oil prices. Despite the presence of low stocks, the prevailing scenario underscores the challenges posed by minimal industrial demand in the current market environment.
Mentha Oil contract for FEB delivery settled at Rs 911/quintal showing an fall of Rs -4.8 over previous close of Rs 915.8/quintal,The contract moved in the range of Rs 907-917.9 for the day. Open interest decreased by -9 MT to 824 MT, while trading volume decreased by -5 to 34 MT.
Mentha Oil contract for MAR delivery settled at Rs 920/quintal showing an fall of Rs -4.3 over previous close of Rs 924.3/quintal,The contract moved in the range of Rs 918-927.5 for the day. Open interest increased by 4 MT to 47 MT, while trading volume increased by 7 to 10 MT.
Mentha Oil contract for MAR delivery settled at Rs 920/quintal showing an fall of Rs -4.3 over previous close of Rs 924.3/quintal,The contract moved in the range of Rs 918-927.5 for the day. Open interest increased by 4 MT to 47 MT, while trading volume increased by 7 to 10 MT.
Currently The spread between FEB and MAR contract is -9 Rs/quintal.
Currently The spread between MAR and MAR contract is 0 Rs/quintal.
Currently The spread between FEB and MAR contract is -9 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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