Mentha oil settled up by 0.29% at 877.8 amid rising demand from consuming industries in the spot market. Besides, restricted arrivals from the major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices. However with cooler winters anticipated for many parts of India this year, the demand may soon start picking up from the pharmaceutical sector. Global demand too is expected to rise at these lower levels in coming weeks.
Trading Ideas:
Menthaoil trading range for the day is 871.9-882.9.
Mentha oil spot at Sambhal closed at 1019.30 per 1kg. Spot prices is up by Rs.3.30/-.
Mentha oil prices ended with gains amid rising demand from consuming industries in the spot market.
Besides, restricted arrivals from the major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices.
As per market sources, the overall production is still 70% lower from the previous year of 50,000 tons.
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