Mentha oil on MCX settled up by 1.19% at 1792.7 following strong demand from the domestic and overseas markets as supply of synthetic menthol from the world’s biggest supplier has slowed down and as demand from oral care, pharmaceutical and confectionary sectors continue to remain high. Farmers have got Rs 1,100-1,200/kg for mentha oil this year and are offloading stock with increase in prices.
Trading Ideas:
* Menthaoil trading range for the day is 1735.7-1828.5.
* Mentha oil spot at Sambhal closed at 1948.00 per 1kg. Spot prices was up by Rs.1.30/-.
* Mentha oil settled up following strong demand as supply of synthetic menthol from the world’s biggest supplier has slowed down.
* According to the market sources, traders have raised their holdings on the back of pick-up in spot demand from consuming industries.
* Tight stock positions due to restricted arrivals from the major producing belts of Chandausi is also giving support to the mentha prices.
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