New Delhi, April 10 (Commoditiescontrol): Mentha oil faced downward pressure in the spot market on Friday, while futures traded nearly flat. Traders attribute this trend to a higher-than-expected sowing area under mentha crop, which has dampened sentiment. Additionally, the abundance of synthetic mentha supply has contributed to weakened industrial demand for natural produce.
In Chandausi market, mentha oil prices were quoted Rs 4 lower at Rs 1,016-1,018 per kg. Meanwhile, prices in the Barabanki market stood at Rs 990 per kg.
At the Multi Commodity Exchange (MCX), the benchmark contract of Mentha oil for April delivery witnessed a marginal increase of Rs 0.3, trading at Rs 905.7 per kg. Open interest stood at 458, with a trading volume of 101 contracts.
The decline in spot prices coupled with the stable performance of futures indicates a cautious market sentiment amid factors influencing both demand and supply trends in the mentha oil industry.
Mentha Oil contract for APR delivery settled at Rs 905.7/quintal showing an rise of Rs 0.3 over previous close of Rs 905.4/quintal,The contract moved in the range of Rs 897-908.9 for the day. Open interest decreased by -43 MT to 458 MT, while trading volume decreased by -40 to 101 MT.
Mentha Oil contract for MAY delivery settled at Rs 915.7/quintal showing an fall of Rs -3.9 over previous close of Rs 919.6/quintal,The contract moved in the range of Rs 911-920.1 for the day. Open interest increased by 4 MT to 147 MT, while trading volume decreased by -10 to 33 MT.
Mentha Oil contract for JUNE delivery settled at Rs 925/quintal showing an fall of Rs -0.3 over previous close of Rs 925.3/quintal,The contract moved in the range of Rs 917-926 for the day. Open interest increased by 12 MT to 135 MT, while trading volume decreased by -14 to 29 MT
Currently The spread between APR and MAY contract is -10 Rs/quintal.
Currently The spread between MAY and JUNE contract is -9.29999999999995 Rs/quintal.
Currently The spread between APR and JUNE contract is -19.3 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
0 Comments 
Post Comment 
