On Wednesday, April 3, 2019, there was a slight increase in the prices of Mentha Oil in the spot markets. Mention of Mentha Oil's April contract on Commodity Exchange MCX at around Rs 10.30 a.m., rising by Rs 7.70 or 0.49 per cent to Rs 1585.60 per kg This can prove to be beneficial for you.
According to Abhijeet Banerjee, Senior Research Manager (Commodity Division) of Religare Securities, after the fall of yesterday, the rise in purchases at the lower level has led to a rise in the prices of mentha oil. However, he says that the price of Mentha Oil still remains below the critical level of Rs. 1600. In view of this, mentha oil is advised to sell in April contract. He says that selling of Mentha Oil around the price of Rs. 1595-1600 should be sold. Keeping a stoploss at the price of Rs 1605, by the end of this week, a target of 1550 rupees per kilogram should be made.
The director of Kedia Commodity, Ajay Kedia has said that Mentha's spot demand is quite low. Apart from this, the new crop of Mentha Oil is expected to start in the markets next month. Due to the sale of spot stockists, there is a sign of further pressure in Mentha Oil prices. Kedia is of the view that investors should sell Mentha Oil in the April contract at the current level. Keeping a stoploss at the price of 1610 rupees, the target of Mentha Oil's April contract on MCX should be targeted at Rs 1560 per kg in two seasons.
Mentha is the most used in confectionary products, along with medicines, beauty products, toothpaste. India is the largest producer and exporter of the world. The highest yield of mentha is in UP. UP's share in the production of total mentha oil in the country is about 80 percent. Districts of Western UP, Sambhal, Rampur, Chandausi Mentha are major producers, while Barabanki district near Lucknow is also the main producing area of Mentha Oil.
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The director of Kedia Commodity, Ajay Kedia has said that Mentha's spot demand is quite low. Apart from this, the new crop of Mentha Oil is expected to start in the markets next month. Due to the sale of spot stockists, there is a sign of further pressure in Mentha Oil prices. Kedia is of the view that investors should sell Mentha Oil in the April contract at the current level. Keeping a stoploss at the price of 1610 rupees, the target of Mentha Oil's April contract on MCX should be targeted at Rs 1560 per kg in two seasons.
Mentha is the most used in confectionary products, along with medicines, beauty products, toothpaste. India is the largest producer and exporter of the world. The highest yield of mentha is in UP. UP's share in the production of total mentha oil in the country is about 80 percent. Districts of Western UP, Sambhal, Rampur, Chandausi Mentha are major producers, while Barabanki district near Lucknow is also the main producing area of Mentha Oil.
For more information Top 10 Stock Advisory Company Indore
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