Mentha oil on MCX settled down by -1.08% at 978.1 amid easing demand at the spot market. Further, ample stocks position on increased supplies from Chandausi in Uttar Pradesh too led to the decline in mentha oil prices. Prices also remained under pressure on speculation that the area under cultivation can increase this year resulting good production. Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates of around 40,000 tonnes.

Trading Ideas:

*Mentha oil trading range for the day is 966.8-996.4. 

*Mentha oil spot at Sambhal closed at 1118.40 per 1kg. Spot prices was down by Rs.-14.90/-.

*Mentha oil prices ended with losses amid easing demand at the spot market.

*Further, ample stocks position on increased supplies from Chandausi in Uttar Pradesh too led to the decline in mentha oil prices.

*Prices also remained under pressure on speculation that the area under cultivation can increase this year resulting good production.

Get more about Commodity Market Trading Tips http://www.ripplesadvisory.com/services.php.