Mentha Oil On MCX Settled Up

Mentha oil on MCX settled up by 2.11% at 974.4 on the back of rising demand at the spot market. Further, tight stocks position on fall in arrivals from producing belts too added support to mentha oil prices uptrend. As per local sources, during last three weeks around 20 percent arrivals have decreased in the spot markets also supported prices. 

Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year. This implies that export demand for the complete financial year can be between 27000 and 29000 MT quite cheaper, versus 23000 of total exports last year. 

Farmers are keeping most of the stocks in their hands. Most buyers are willing to buy at these levels. Since farmers are keeping most of stocks, thus whenever requirement arises, industry people will be purchasing from the farmers. 

This will be another bullish price driver. Indian markets had reported higher sowing for current year. Traders had estimated earlier that the total production in the range of 35000-37000 tons for this year, and currently it appears that the average estimate might be reduced to 30000 tons due to lower plantings on falling prices in the last two years.

For Quick Trial – 8962000225 ✔
or mail us here:
✆ - 0731-6554125 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 0969999771

NewerStories OlderStories Home