New Delhi, February 6 (Commoditiescontrol): Mentha oil prices exhibited a near-flat trend in the physical market on Tuesday, while futures showed a modest uptick at the local bourse. Traders reported weak demand for mentha oil in the spot market, but anticipate an improvement in buying activities in the upcoming sessions following a significant fall witnessed in the previous session.
The commencement of sowing for the new crop has initiated, but expectations suggest that the acreage of mentha oil will remain lower this year. Farmers are reportedly dissatisfied with the prices they received for their produce, leading to a reluctance in cultivating mentha crops. Traders attribute this phenomenon to the increased production costs, making the margin less appealing for farmers in mentha cultivation.
In Chandausi market, mentha oil prices were reported at Rs 995-997 per kg, while prices in the Barabanki market stood at Rs 965 per kg.
At the MCX, the benchmark contract for Mentha oil, scheduled for delivery in February, showed a slight increase of Rs 3.7, trading at Rs 916.5 per kg. The open interest was recorded at 833, with a trading volume of 39.
Mentha Oil contract for FEB delivery settled at Rs 916.5/quintal showing an rise of Rs 3.7 over previous close of Rs 912.8/quintal,The contract moved in the range of Rs 910-916.5 for the day. Open interest was simillar by 0 MT to 833 MT, while trading volume decreased by -74 to 39 MT.
Mentha Oil contract for MAR delivery settled at Rs 925/quintal showing an was simillar of Rs 0 over previous close of Rs 925/quintal,The contract moved in the range of Rs 923-925 for the day. Open interest was simillar by 0 MT to 43 MT, while trading volume decreased by -12 to 3 MT.
Mentha Oil contract for MAR delivery settled at Rs 925/quintal showing an was simillar of Rs 0 over previous close of Rs 925/quintal,The contract moved in the range of Rs 923-925 for the day. Open interest was simillar by 0 MT to 43 MT, while trading volume decreased by -12 to 3 MT.
Currently The spread between FEB and MAR contract is -8.5 Rs/quintal
Currently The spread between MAR and MAR contract is 0 Rs/quintal.
Currently The spread between FEB and MAR contract is -8.5 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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