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Spot Mentha Extends Gains On Restricted Supplies

15 Jul 2019 8:03 pm
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NEW DELHI (Commoditiescontrol) - Spot mentha oil gained further at key markets of Uttar Pradesh on Monday due to 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 1,360/kg, Rs 1,365 and Rs 1,345, respectively.

While, at the Multi Commodity Exchange (MCX), mentha oil for delivery in July moved up by Rs 22.60 or 1.86 percent at Rs 1,234.80 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 pressure.

(By Commoditiescontrol Bureau)


       
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