New Delhi, March 01 (Commoditiescontrol): Mentha oil prices experienced a notable upswing in both the spot market and futures on Friday, propelled by an uptick in buying activity. Traders suggest that the surge is driven by heightened industrial demand for mentha oil, particularly from FMCG producers, with expectations of further escalation in the coming days.
In Chandausi market, mentha oil prices witnessed a robust climb to reach Rs 1008-1010 per kg, underscoring the positive momentum in buying. Similarly, in the Barabanki market, prices rose to Rs 985 per kg, reflecting the broader trend in the mentha oil sector.
On the MCX, the benchmark contract for Mentha oil with delivery in March exhibited a substantial increase, trading Rs 7.1 higher at Rs 928.6 per kg. The contract registered an open interest of 695 and a trading volume of 152, indicative of the increased interest and participation in the market.
Market analysts attribute the surge in mentha oil prices to the anticipated surge in industrial demand, particularly from FMCG producers. The essential oil is a key ingredient in various products, including cosmetics, pharmaceuticals, and confectionery, contributing to its significance in the industrial landscape.
The positive trend in mentha oil prices is expected to be sustained as industrial consumption continues to rise. Market participants are closely monitoring developments in both domestic and international markets to gauge the factors influencing the mentha oil sector, with a keen eye on industrial demand trends in the FMCG sector.
Mentha Oil contract for MAR delivery settled at Rs 928.6/quintal showing an rise of Rs 7.1 over previous close of Rs 921.5/quintal,The contract moved in the range of Rs 922.1-937.9 for the day. Open interest increased by 541 MT to 695 MT, while trading volume increased by 149 to 152 MT.
Mentha Oil contract for MAR delivery settled at Rs 928.6/quintal showing an rise of Rs 7.1 over previous close of Rs 921.5/quintal,The contract moved in the range of Rs 922.1-937.9 for the day. Open interest increased by 17 MT to 695 MT, while trading volume decreased by -37 to 152 MT.
Mentha Oil contract for MAR delivery settled at Rs 928.6/quintal showing an rise of Rs 7.1 over previous close of Rs 921.5/quintal,The contract moved in the range of Rs 922.1-937.9 for the day. Open interest increased by 17 MT to 695 MT, while trading volume decreased by -37 to 152 MT.
Currently The spread between MAR and MAR contract is 0 Rs/quintal.
Currently The spread between MAR and MAR contract is 0 Rs/quintal.
Currently The spread between MAR and MAR contract is 0 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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