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Mentha Oil Futures Gain On Upsurge In Demand
Mentha oil futures were trading higher during morning trade in the domestic market on Friday as investors and speculators build up fresh bets in the agri-commodity amid rise in physical demand for mentha oil from major consuming industries in the domestic spot market.ForMore http://www.ripplesadvisory.com/services.php
At the MCX, mentha oil futures for December 2016 contract is trading at Rs 1,005.30 per kg, up by 0.77 %, after opening at Rs 998, against.Mentha oil on MCX settled down by -0.91% at 997.6 due to profit booking amid weak demand in the domestic and overseas markets.
Trading Ideas
- Menthaoil trading range for the day is 979.2-1025.2.
- Mentha oil spot at Sambhal closed at 1072.00 per 1kg. Spot prices is down by Rs.-10.80/-.
- Further, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh, too added pressure added pressure on mentha oil prices.
- China and Japan have reduced their buying quantity in the recent past due to the economic slowdown had impacted Mint product's exports which declined substantially from the export basket by 18% in terms of volume and 4% in terms of value year-on-year.
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