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Spot Mentha Gains Further On Tight Supplies

12 Jul 2019 8:32 pm
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NEW DELHI (Commoditiescontrol) - Spot mentha oil extended its gains at key markets of Uttar Pradesh on Friday 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 1,340/kg, Rs 1,345 and Rs 1,325, respectively.

While, at the Multi Commodity Exchange (MCX), mentha oil for delivery in July moved up by Rs 6 or 0.50 percent at Rs 1,212.90 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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