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Spot Mentha Maintains Upward Momentum On Lower Supplies

16 Jul 2019 7:12 pm
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NEW DELHI (Commoditiescontrol) - Spot mentha oil maintained its upward momentum at key markets of Uttar Pradesh on Tuesday amid tight supplies and emerging export demand for the newly-harvested crop.

As per traders, 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.

Mentha oil prices in Chandausi, Sambhal and Rampur quoted at Rs 1,380/kg, Rs 1,385 and Rs 1,365, respectively.

While, at the Multi Commodity Exchange (MCX), mentha oil for delivery in July gained further by Rs 21.30 or 1.73 percent at Rs 1,254 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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