Mumbai, 01 Apr 2024 (Commoditiescontrol):Mentha oil prices held their ground on Monday as supplies in the market continue to be limited. Prices experienced an increase in the important Barabanki market, whereas the Chandausi market saw minimal fluctuation. This pattern was mirrored in mentha oil futures contracts, where the majority indicated positive trading activity.
Reports indicate a potential decrease in this year's mentha crop acreage. This shift is attributed to farmers' dissatisfaction with the lower prices obtained during the previous season.
Spot Market Prices:
Chandausi: Mentha oil prices largely unchanged at Rs 1028-1030 per kg.
Barabanki: Prices increased to Rs 1000 per kg.
In NCDEX Mentha Oil contract for MAR delivery settled at Rs 930.8/quintal showing an rise of Rs 4.8 over previous close of Rs 926/quintal,The contract moved in the range of Rs 922.5-936.5 for the day. Open interest increased by 548 MT to 561 MT, while trading volume increased by 132 to 134 MT.
Mentha Oil contract for APR delivery settled at Rs 935.1/quintal showing an rise of Rs 2.7 over previous close of Rs 932.4/quintal,The contract moved in the range of Rs 933.5-938.5 for the day. Open interest decreased by -459 MT to 97 MT, while trading volume decreased by -120 to 13 MT.
Mentha Oil contract for MAY delivery settled at Rs 937.7/quintal showing an rise of Rs 9.7 over previous close of Rs 928/quintal,The contract moved in the range of Rs 934-938 for the day. Open interest decreased by -476 MT to 80 MT, while trading volume decreased by -124 to 9 MT.
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(By Commoditiescontrol Bureau: +91 9820130172)
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