New Delhi, Feb 2 (Commoditiescontrol): Mentha oil prices remained nearly unchanged in the spot market on Friday, while futures witnessed a slight dip at the local bourse. According to trade sources, demand for mentha oil was negligible in the spot market.
The sowing of the new crop has commenced, but there are expectations of a lower acreage for mentha oil this year. Farmers reportedly received lower prices for their produce, leading to reduced interest for mentha crop cultivation. Traders highlighted that the increased production costs have resulted in farmers finding limited margins in mentha cultivation.
In Chandausi market, mentha oil prices held steady at Rs 1014-1016 per kg. Meanwhile, in Barabanki market, prices were at Rs 982 per kg.
At the MCX, the benchmark contract of Mentha oil for delivery in February was trading Rs 1.5 lower at Rs 926 per kg, with an open interest of 835 and a trading volume of 23.
Mentha Oil contract for FEB delivery settled at Rs 926/quintal showing an fall of Rs -1.5 over previous close of Rs 927.5/quintal,The contract moved in the range of Rs 926-930.2 for the day. Open interest decreased by -3 MT to 835 MT, while trading volume decreased by -61 to 23 MT.
Mentha Oil contract for MAR delivery settled at Rs 936.5/quintal showing an fall of Rs -3 over previous close of Rs 939.5/quintal,The contract moved in the range of Rs 936.1-939 for the day. Open interest increased by 2 MT to 38 MT, while trading volume increased by 1 to 5 MT.
Mentha Oil contract for MAR delivery settled at Rs 936.5/quintal showing an fall of Rs -3 over previous close of Rs 939.5/quintal,The contract moved in the range of Rs 936.1-939 for the day. Open interest increased by 2 MT to 38 MT, while trading volume increased by 1 to 5 MT.
Currently The spread between FEB and MAR contract is -10.5 Rs/quintal.
Currently The spread between MAR and MAR contract is 0 Rs/quintal
Currently The spread between FEB and MAR contract is -10.5 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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