Mentha Oil Prices Surge Amid Improved Demand

New Delhi, February 27 (Commoditiescontrol): Mentha oil prices experienced a notable rise both in the physical market and futures on Tuesday, driven by increased buying at lower levels. Analysts suggest that the consumption demand for mentha oil is expected to surge in the FMCG industry in anticipation of the upcoming summer season.

In Chandausi market, mentha oil prices remained nearly flat at Rs 1005-1007 per kg, while in Barabanki, prices were recorded at Rs 977 per kg.

At the Multi Commodity Exchange (MCX), the benchmark contract for Mentha oil with February delivery was trading Rs 12.7 higher at Rs 913.2 per kg, showing open interest of 155 and zero volume.

Similarly, the benchmark contract for Mentha oil with March delivery registered a Rs 5.6 increase, trading at Rs 924 per kg at MCX. This contract exhibited an open interest of 638 and a volume of 108.

Analysts anticipate continued momentum in mentha oil prices as improved demand, particularly in the FMCG sector, drives market activity. The surge in prices indicates a positive market sentiment with potential implications for the mentha oil market in the coming weeks.

Mentha Oil contract for FEB delivery settled at Rs 913.2/quintal showing an rise of Rs 12.7 over previous close of Rs 913.2/quintal,The contract moved in the range of Rs 896.9-930 for the day. Open interest was simillar by 0 MT to 155 MT, while trading volume decreased by -27 to 0 MT.

Mentha Oil contract for MAR delivery settled at Rs 924/quintal showing an rise of Rs 5.6 over previous close of Rs 918.4/quintal,The contract moved in the range of Rs 915.5-926 for the day. Open interest increased by 4 MT to 638 MT, while trading volume increased by 28 to 108 MT.

Mentha Oil contract for MAR delivery settled at Rs 924/quintal showing an rise of Rs 5.6 over previous close of Rs 918.4/quintal,The contract moved in the range of Rs 915.5-926 for the day. Open interest increased by 4 MT to 638 MT, while trading volume increased by 28 to 108 MT.

Currently The spread between FEB and MAR contract is -10.8 Rs/quintal.

Currently The spread between MAR and MAR contract is 0 Rs/quintal.

Currently The spread between FEB and MAR contract is -10.8 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)