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Mentha Oil Market News Update
Mentha oil futures were trading higher during morning trade in the domestic market on Friday as participants build up fresh bets in the agri-commodity amid uptick in physical demand for mentha oil from major consuming industries in the domestic spot market.
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Further, widening of positions by traders in the spot market was led by rise in physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade.
At the MCX, mentha oil futures for December 2016 contract is trading at Rs 1034 per kg, up by 0.74 % after opening at Rs 1027.10, against the previous closing price of Rs 1026.40. It touched the intra-day high of Rs 1035.60.
Trading Ideas
* Menthaoil trading range for the day is 1025.1-1063.1. At the MCX, mentha oil futures for December 2016 contract is trading at Rs 1034 per kg, up by 0.74 % after opening at Rs 1027.10, against the previous closing price of Rs 1026.40. It touched the intra-day high of Rs 1035.60.
Trading Ideas
* Mentha oil spot at Sambhal closed at 1129.80 per 1kg.
Spot prices is up by Rs.4.30/-.
* Mentha oil gained amid pick-up in demand in the
domestic spot market.
* Farmers are keeping most of the stocks in their hands
and most buyers are willing to buy at these levels.
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