FREE COMMODITY MENTHA OIL NEWS 30-12-2106
Mentha oil on MCX settled up by 0.49% at 1043.3 amid pick-up in demand in the domestic spot market. However, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh, capped some gains. 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. At Chandausi market total arrivals are at 10 Drums(1-drum-180kg), steady as against previous day’s arrival. Mentha DMO is offered at Rs. 815 per Kg, unchanged against previous close. Mentha Flakes at Chandausi market is quoted firm at Rs. 1135 per Kg, higher by 0.44 per cent as compared to previous day. Mentha Crystal at Chandausi market is offered lower at Rs. 1160 per Kg, lower by 0.43 per cent from previous trading day. At Barabanki market, estimated market supply was at 70 Drums (1-drum-180kg), down by 30 Drums(1-drum-180kg) from previous day’s arrivals. At Rampur market, total arrivals are at 4 Drums (1- um=180kg), down by 1 Drums(1-drum=180kg) as against previous day. At Sambhal market, total arrivals are at 60 Drums (1-drum=180kg), steady as against previous day’s arrival. Mentha oil spot at Sambhal closed at 1129.80 per 1kg. Spot prices is up by Rs.4.30/-.Technically now Menthaoil is getting support at 1034.2 and below same could see a test of 1025.1 level, And resistance is now likely to be seen at 1053.2, a move above could see prices testing 1063.1.
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Mentha oil on MCX settled up by 0.49% at 1043.3 amid pick-up in demand in the domestic spot market. However, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh, capped some gains. 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. At Chandausi market total arrivals are at 10 Drums(1-drum-180kg), steady as against previous day’s arrival. Mentha DMO is offered at Rs. 815 per Kg, unchanged against previous close. Mentha Flakes at Chandausi market is quoted firm at Rs. 1135 per Kg, higher by 0.44 per cent as compared to previous day. Mentha Crystal at Chandausi market is offered lower at Rs. 1160 per Kg, lower by 0.43 per cent from previous trading day. At Barabanki market, estimated market supply was at 70 Drums (1-drum-180kg), down by 30 Drums(1-drum-180kg) from previous day’s arrivals. At Rampur market, total arrivals are at 4 Drums (1- um=180kg), down by 1 Drums(1-drum=180kg) as against previous day. At Sambhal market, total arrivals are at 60 Drums (1-drum=180kg), steady as against previous day’s arrival. Mentha oil spot at Sambhal closed at 1129.80 per 1kg. Spot prices is up by Rs.4.30/-.Technically now Menthaoil is getting support at 1034.2 and below same could see a test of 1025.1 level, And resistance is now likely to be seen at 1053.2, a move above could see prices testing 1063.1.
