New Delhi, February 5 (Commoditiescontrol): Mentha oil prices experienced a significant decline in the physical market on Monday, influenced by weak demand from both local industries and the overseas market. The sowing of the new crop has commenced, but the acreage for mentha oil is anticipated to remain lower this year as farmers did not receive the expected prices for their produce. Traders suggest that the increased production cost has led farmers to find less favorable margins in mentha crop cultivation.
In Chandausi market, mentha oil prices fell by Rs 18 to Rs 996-998 per kg, while in the Barabanki market, prices were down by Rs 16 to Rs 966 per kg.
At the MCX, the benchmark contract for Mentha oil delivery in February was trading Rs 15.3 down at Rs 911.2 per kg, with open interest at 833 and a volume of 113.
Mentha Oil contract for FEB delivery settled at Rs 911.2/quintal showing an fall of Rs -15.3 over previous close of Rs 926.5/quintal,The contract moved in the range of Rs 911.2-929 for the day. Open interest decreased by -2 MT to 833 MT, while trading volume increased by 90 to 113 MT.
Mentha Oil contract for MAR delivery settled at Rs 923/quintal showing an fall of Rs -14.9 over previous close of Rs 937.9/quintal,The contract moved in the range of Rs 922-934.9 for the day. Open interest increased by 5 MT to 43 MT, while trading volume increased by 10 to 15 MT.
Mentha Oil contract for MAR delivery settled at Rs 923/quintal showing an fall of Rs -14.9 over previous close of Rs 937.9/quintal,The contract moved in the range of Rs 922-934.9 for the day. Open interest increased by 5 MT to 43 MT, while trading volume increased by 10 to 15 MT.
Currently The spread between FEB and MAR contract is -11.8 Rs/quintal.
Currently The spread between MAR and MAR contract is 0 Rs/quintal.
Currently The spread between FEB and MAR contract is -11.8 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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