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Spot Mentha Edges Up On Tight Supply

11 Jul 2019 8:29 pm
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NEW DELHI (Commoditiescontrol) - Spot mentha oil gained further at key markets of Uttar Pradesh on Thursday due to higher-than-expected decline in arrivals.

"Supplies have been disrupted as farmers have stopped harvesting the new mentha crop due to heavy rainfall in the key growing areas of the state, creating a vacuum in supply chain," said a Barabanki-based trader.

Mentha oil prices in Chandausi, Sambhal and Rampur quoted at Rs 1,335/kg, Rs 1,340 and Rs 1,320, respectively.

While, at the Multi Commodity Exchange (MCX), mentha oil for delivery in July edged up by Rs 8.80 or 0.73 percent at Rs 1,206.50 per kg.

As per trade sources, prices are likely to remain range-bound with slight upside in the days to come due to easing of supply prressure.

(By Commoditiescontrol Bureau)


       
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