Friday, 15 January 2016

MENTHA OIL REPORT

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Mentha oil settled up by 1.45% at 881.7 supported by firming trend at the spot markets on pick-up in demand from consuming industries. Further, restricted arrivals from major producing belts of Chandausi in Uttar Pradesh, too fuelled the uptrend. Reports of lower quality arrivals leading to lack of export demand too kept trend sideways. Traders said that the day-to-day consumption of menthol declined from 200 drums to 100-120 drums in present term. At Rampur market sources reported arrivals at 5 Drums(1-drum=180kg), steady as against previous day’s arrival.
Trading Ideas:
Menthaoil trading range for the day is 858.2-895.2.
Mentha oil spot at Sambhal closed at 1024.40 per 1kg. Spot prices is up by Rs.1.50/-.
Mentha oil prices ended with gains supported by firming trend at the spot markets on pick-up in demand from consuming industries.
Further, restricted arrivals from major producing belts of Chandausi in Uttar Pradesh, too fuelled the uptrend.
The day-to-day consumption of menthol declined from 200 drums to 100-120 drums in present term.

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