Login ID:
Password:
Partner Login
Contact Us : 7066511911

Spot Mentha Gains Further On Tight Supply

8 Feb 2019 7:18 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI (Commoditiescontrol) - Spot mentha oil prices gained further at key markets of Uttar Pradesh on Friday amid increased buying and restricted supply in the wake of rainfall with thunderstorms.

Overall, sentiments are bullish as delayed sowing in the state is likely to affect the crop yield. Demand from the industry for the coming summer season is also supporting prices.

As per reports, farmers are now worried as untimely rains and inclement weather conditions have dealyed the sowing in key producing belts. The production is likely to be badly affected if weather conditions don't improve in the next few days.

However, concerns over production have somewhat eased as sowing of the spice crop, which was largely concentrated in Barabanki, Sambhal and Chandausi in Uttar Pradesh, spread to Punjab and Haryana a decade ago and is now seen in Bihar and Madhya Pradesh.

Last year mentha oil production was at around 35,000 tonnes.

Mentha oil prices in Chandausi, Sambhal and Rampur quoted at Rs 1,730/kg, Rs 1,740 and Rs 1,650, respectively. While, at the Multi Commodity Exchange (MCX), mentha oil for delivery in February traded higher by Rs 16.80, or 1.07 percent at Rs 1,581.50 per kg.

Market was earlier expecting rise in acreage in 2019 due to high returns the commodity gave in the past few years. The commodity offers good value proposition as the cost of production of mentha oil is below Rs 500 a kg, while the spice oil is consistently traded at Rs 1,500-1,800 a kg.

(By Commoditiescontrol Bureau)


N       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Spot Mentha Gains On Better Demand
Spot Mentha Edges Lower On Subdued Buying
Spot Mentha Moves In Narrow Range In Limited Trade
Spot Mentha Falls Further On Higher Output Concerns
Spot Mentha Weaknes On Limited Buying, Higher Supply
more
Top 5 News
Spot Turmeric Prices Steady To Firm
Spot Red Chilli Rules Stable
Domestic Tur Firm At Major Markets
Market Wise Tur Arrivals: Supply Increased By Nearly 62...
NCDEX Soybean Extends Losses With Dull Demand
Top 5 Special Reports
Technical: Sugar M Grade Delhi- Correction Continues...
Technical: Jeera Unjha- Correction Is In Progress
Stock Position Of Veg Oil (Edible Grade ) At Jnpt As On...
Technical: Dhaniya Kota- Expect Near Term Rally
Technical: Turmeric Nizambad- Correction/Sideways Vol...
Copyright © CC Commodity Info Services LLP. All rights reserved.