New Delhi, June 18 (Commoditiescontrol): Mentha oil prices extended their decline on Monday as increased arrivals put downward pressure on the market. Prices of mentha oil dropped sharply by Rs 5-10 per kg in the spot market today. However, futures showed only a slight dip. According to trade sources, demand for mentha oil remains lackluster.
In Chandausi, mentha oil prices fell to Rs 955-957 per kg, marking a significant drop. Similarly, in Barabanki, prices were quoted Rs 5 down at Rs 915 per kg.
The mentha oil future contract for delivery in June decreased by Rs 1.3 to Rs 907.7 per kg on the Multi Commodity Exchange (MCX), with an open interest of 348 and a trading volume of 249.
Market participants are closely monitoring the situation as they await any signs of recovery in demand which could stabilize or reverse the current trend.
Mentha Oil contract for MAY delivery settled at Rs 907.7/quintal showing an fall of Rs -1.3 over previous close of Rs 909/quintal,The contract moved in the range of Rs 899-909.7 for the day. Open interest decreased by -62 MT to 348 MT, while trading volume increased by 140 to 249 MT.
Mentha Oil contract for JUNE delivery settled at Rs 921/quintal showing an fall of Rs -4 over previous close of Rs 925/quintal,The contract moved in the range of Rs 913.3-924.9 for the day. Open interest increased by 70 MT to 239 MT, while trading volume increased by 100 to 165 MT.
Mentha Oil contract for JUL delivery settled at Rs 931/quintal showing an fall of Rs -9 over previous close of Rs 940/quintal,The contract moved in the range of Rs 931-931 for the day. Open interest increased by 1 MT to 1 MT, while trading volume increased by 1 to 1 MT.
Currently The spread between MAY and JUNE contract is -13.3 Rs/quintal.
Currently The spread between JUNE and JUL contract is -10 Rs/quintal
Currently The spread between MAY and JUL contract is -23.3 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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