New Delhi, Feb 01 (Commoditiescontrol): Mentha oil prices maintained stability in the spot market today, with slow buying observed following a significant rally in the previous session. However, local bourses witnessed a marginal uptick in current month mentha oil futures.
Trade sources attribute this to the prevailing low stocks of mentha oil this year, stemming from reduced production in the last season. Additionally, expectations of lower acreage for mentha oil cultivation have been influenced by farmers' dissatisfaction with the prices received for their produce.
Traders noted that the production cost has risen, leading farmers to reconsider mentha crop cultivation due to insufficient profit margins.
In Chandausi, mentha oil prices held steady in the range of Rs 1014-1016 per kg. Meanwhile, in Barabanki, prices were reported at Rs 982 per kg.
At the Multi Commodity Exchange (MCX), the benchmark contract of Mentha oil for delivery in February traded Rs 1.4 or 0.15% higher at Rs 928.9 per kg. The open interest stood at 838, with a trading volume of 84.
Mentha Oil contract for FEB delivery settled at Rs 928.9/quintal showing an fall of Rs -0.1 over previous close of Rs 929/quintal,The contract moved in the range of Rs 925.1-936.9 for the day. Open interest increased by 710 MT to 838 MT, while trading volume increased by 74 to 84 MT.
Mentha Oil contract for MAR delivery settled at Rs 936.5/quintal showing an rise of Rs 1.9 over previous close of Rs 934.6/quintal,The contract moved in the range of Rs 936.5-944.5 for the day. Open interest decreased by -806 MT to 36 MT, while trading volume decreased by -103 to 4 MT.
Mentha Oil contract for MAR delivery settled at Rs 936.5/quintal showing an rise of Rs 1.9 over previous close of Rs 934.6/quintal,The contract moved in the range of Rs 936.5-944.5 for the day. Open interest increased by 3 MT to 36 MT, while trading volume decreased by -5 to 4 MT.
Currently The spread between FEB and MAR contract is -7.60000000000002 Rs/quintal.
Currently The spread between MAR and MAR contract is 0 Rs/quintal.
Currently The spread between FEB and MAR contract is -7.60000000000002 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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