New Delhi, July 01 (CommoditiesControl): Mentha oil prices exhibited firmness in the physical markets on Monday, driven by improved demand and favorable crop conditions. The local futures market also reflected a positive trend with slight increases.
In Chandausi market, mentha oil prices were quoted Rs 12 higher, reaching Rs 956-958 per kilogram. Similarly, in Barabanki, prices saw an increase of Rs 10, settling at Rs 910 per kilogram.
On the Multi Commodity Exchange (MCX), the mentha oil futures contract for July delivery was up by Rs 3.1, trading at Rs 919.6 per kilogram with an open interest of 505 and a volume of 101. The August futures contract also saw a rise of Re 1, reaching Rs 928 per kilogram with an open interest of 70 and a volume of 3.
Trade sources report that the mentha crop is performing well due to favorable weather conditions, and there is increased inquiry from export markets, which is bolstering market sentiment.
Mentha Oil contract for JUN delivery settled at Rs 919.6/quintal showing an rise of Rs 3.1 over previous close of Rs 916.5/quintal,The contract moved in the range of Rs 912.4-920.8 for the day. Open interest increased by 482 MT to 505 MT, while trading volume increased by 100 to 101 MT.
Mentha Oil contract for JUL delivery settled at Rs 928/quintal showing an rise of Rs 1 over previous close of Rs 927/quintal,The contract moved in the range of Rs 927-929 for the day. Open interest decreased by -433 MT to 70 MT, while trading volume decreased by -150 to 3 MT.
Mentha Oil contract for AUG delivery settled at Rs 950/quintal showing an was simillar of Rs 0 over previous close of Rs 950/quintal,The contract moved in the range of Rs 950-950 for the day. Open interest decreased by -70 MT to 0 MT, while trading volume decreased by -1 to 0 MT.
Currently The spread between JUN and JUL contract is -8.39999999999998 Rs/quintal.
Currently The spread between JUL and AUG contract is -22 Rs/quintal.
Currently The spread between JUN and AUG contract is -30.4 Rs/quintal.
(By Commoditiescontrol Bureau: +91 9820130172)
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