Mumbai, March 04 (Commodities Control): Mentha oil prices continued to climb in the physical market on Monday, driven by enhanced demand, while futures showed marginal movement. Trade sources reveal that the planting of the mentha crop is progressing slowly in key growing regions of Uttar Pradesh. Consequently, stockists are displaying reluctance to liquidate their stocks at lower rates. Simultaneously, both local and export demand are anticipated to rise in the forthcoming days.
In Chandausi market, Mentha oil prices registered a gain of Rs 6, reaching Rs 1014-1016 per kg. Similarly, prices in the Barabanki market rose by Rs 3, settling at Rs 988 per kg.
Contrastingly, the benchmark contract of Mentha oil for delivery in March displayed minimal movement in futures trading. The contract traded Rs 0.10 down at Rs 931 per kg on the Multi Commodity Exchange (MCX), with an open interest of 640 and a volume of 261.
The market trends dynamics indicate a positive trend in spot prices attributed to improved demand and the cautious approach of stockists.
Mentha Oil contract for MAR delivery settled at Rs 931/quintal showing an rise of Rs 0.1 over previous close of Rs 930.9/quintal,The contract moved in the range of Rs 929.1-943.1 for the day. Open interest decreased by -55 MT to 640 MT, while trading volume increased by 109 to 261 MT.
Mentha Oil contract for MAR delivery settled at Rs 931/quintal showing an rise of Rs 0.1 over previous close of Rs 930.9/quintal,The contract moved in the range of Rs 929.1-943.1 for the day. Open interest decreased by -55 MT to 640 MT, while trading volume increased by 109 to 261 MT.
Mentha Oil contract for MAR delivery settled at Rs 931/quintal showing an rise of Rs 0.1 over previous close of Rs 930.9/quintal,The contract moved in the range of Rs 929.1-943.1 for the day. Open interest decreased by -55 MT to 640 MT, while trading volume increased by 109 to 261 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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