New Delhi, May 24 (Commoditiescontrol): Mentha oil prices maintained a firm trend in the physical market for the fourth consecutive session on Friday, driven by improved buying support and a lack of carry-forward stocks. However, futures prices declined on the local bourse.
According to traders, mentha crop harvesting is expected to commence in the next 10-15 days, which will likely increase buying activities. Currently, there is minimal price difference between synthetic mint products and natural mentha oil, thereby sustaining strong demand for the natural produce.
In Chandausi market, mentha oil prices gained Re 1, reaching Rs 1008-1010 per kg. Similarly, prices rose by Rs 3 to Rs 978 per kg in the Barabanki market.
On the Multi Commodity Exchange (MCX), the mentha oil futures contract for May delivery was trading down by Rs 1.5 at Rs 925.5 per kg, with an open interest of 114 and a volume of 135. The June delivery contract was also trading lower by Rs 0.3 at Rs 941.6 per kg, with an open interest of 417 and a volume of 120.
Mentha Oil contract for MAY delivery settled at Rs 925.5/quintal showing an fall of Rs -1.5 over previous close of Rs 927/quintal,The contract moved in the range of Rs 925-933 for the day. Open interest decreased by -103 MT to 114 MT, while trading volume increased by 69 to 135 MT.
Mentha Oil contract for JUNE delivery settled at Rs 941.6/quintal showing an fall of Rs -0.3 over previous close of Rs 941.9/quintal,The contract moved in the range of Rs 940-948.8 for the day. Open interest increased by 59 MT to 417 MT, while trading volume increased by 61 to 120 MT.
Mentha Oil contract for JUL delivery settled at Rs 950/quintal showing an fall of Rs -0.6 over previous close of Rs 950.6/quintal,The contract moved in the range of Rs 949.2-954 for the day. Open interest increased by 5 MT to 17 MT, while trading volume increased by 8 to 8 MT.
Currently The spread between MAY and JUNE contract is -16.1 Rs/quintal.
Currently The spread between JUNE and JUL contract is -8.39999999999998 Rs/quintal.
Currently The spread between MAY and JUL contract is -24.5 Rs/quintal.
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