New Delhi, June 23 (Commoditiescontrol): Mentha oil prices traded firmly in both the physical markets and futures on Monday, driven by improved demand and expectations of a smaller crop size. According to traders, mentha oil production is likely to decrease further this year, contributing to the upward pressure on prices.
In the physical markets, mentha oil prices in Chandausi were quoted Rs 6 higher at Rs 956-958 per kg. In Barabanki, prices were also up by Rs 10, reaching Rs 910 per kg.
In the futures market, the mentha oil contract for July delivery increased by Rs 3.9 to Rs 924.6 per kg on the Multi Commodity Exchange (MCX), with an open interest of 488 and a trading volume of 303. Conversely, the mentha oil contract for June delivery fell by Rs 13.3 to Rs 892 per kg on the MCX, with an open interest of 59 and a volume of 128.
Mentha Oil contract for JUN delivery settled at Rs 892/quintal showing an fall of Rs -13.3 over previous close of Rs 905.3/quintal,The contract moved in the range of Rs 881.3-908.4 for the day. Open interest decreased by -122 MT to 59 MT, while trading volume decreased by -80 to 128 MT.
Mentha Oil contract for JUL delivery settled at Rs 924.6/quintal showing an rise of Rs 3.9 over previous close of Rs 920.7/quintal,The contract moved in the range of Rs 916-933.8 for the day. Open interest increased by 80 MT to 488 MT, while trading volume increased by 54 to 303 MT.
Mentha Oil contract for AUG delivery settled at Rs 932.2/quintal showing an rise of Rs 4.1 over previous close of Rs 928.1/quintal,The contract moved in the range of Rs 929.1-935 for the day. Open interest increased by 3 MT to 62 MT, while trading volume decreased by -9 to 17 MT.
Currently The spread between JUN and JUL contract is -32.6 Rs/quintal.
Currently The spread between JUL and AUG contract is -7.60000000000002 Rs/quintal.
Currently The spread between JUN and AUG contract is -40.2 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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