New Delhi, February 12 (Commoditiescontrol): Mentha oil prices experienced further declines on Monday, both in the physical market and futures, due to a prevailing bearish sentiment. Traders noted a decrease in demand for mentha oil from both domestic industries and overseas markets. Market analysts attributed the poor demand to an ongoing trend observed over the past few years, with current exports also exhibiting weakness. Despite low current stocks offering some support to prices, industrial demand remains notably low.
In the Chandausi market, mentha oil prices were reported at Rs 983-985 per kg, while in the Barabanki market, they stood at Rs 956 per kg.
On the Multi Commodity Exchange (MCX), the benchmark contract for Mentha oil with delivery in February was trading Rs 12.9 down at Rs 890.5 per kg. The contract recorded an open interest of 756 and a trading volume of 189.
The mentha oil market continues to navigate through challenging dynamics, with weak demand from both domestic and international sectors contributing to the prevailing bearish trend.
Mentha Oil contract for FEB delivery settled at Rs 890.5/quintal showing an fall of Rs -12.9 over previous close of Rs 903.4/quintal,The contract moved in the range of Rs 888.1-903.4 for the day. Open interest decreased by -29 MT to 756 MT, while trading volume increased by 28 to 189 MT.
Mentha Oil contract for MAR delivery settled at Rs 903.5/quintal showing an fall of Rs -11.9 over previous close of Rs 915.4/quintal,The contract moved in the range of Rs 902-910 for the day. Open interest increased by 13 MT to 75 MT, while trading volume decreased by -8 to 25 MT.
Mentha Oil contract for MAR delivery settled at Rs 903.5/quintal showing an fall of Rs -11.9 over previous close of Rs 915.4/quintal,The contract moved in the range of Rs 902-910 for the day. Open interest increased by 13 MT to 75 MT, while trading volume decreased by -8 to 25 MT.
Currently The spread between FEB and MAR contract is -13 Rs/quintal.
Currently The spread between MAR and MAR contract is 0 Rs/quintal.
Currently The spread between FEB and MAR contract is -13 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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