Mentha oil is trading in limited scope. On Friday, Mentha Oil's May futures rose by Rs 4.40, or 0.30 per cent to Rs 1,463 per kg. Similarly, June futures rose by Rs 4 to Rs 1305 per kilogram.
According to Ajay Kedia, MD of Kedia Commodity, the demand for mentha oil has increased. However, this year, farmers have sown metha extensively. Due to this, production is expected to increase by 30-40%. In this way, there are signs of softening in Mentha oil prices further. In the June contract of Mentha Oil, it is advisable to sell for Rs 1310-1315. You should keep a stoploss at the price of Rs 1325 and in today's session you should have a target of 1270 rupees per kg.
According to Abhijeet Banerjee, Senior Manager (Research) of Religare Securities, buying in spot prices is showing firmness in futures prices. Supply is very low in producing areas. Sell in June contracts for Rs 1315 In two days, the price can fall to Rs. 1260 per kg.
India is the largest producer and exporter of mentha oil and its derivatives. According to traders, the total production this year is estimated to be 35-40 percent more than 48,000 tonnes to 50,000 tonnes. The production last year was between 33,000 to 35,000 tonnes. India exports 70 percent of its annual domestic production.
For more information Top 10 advisory company in Indore
According to Ajay Kedia, MD of Kedia Commodity, the demand for mentha oil has increased. However, this year, farmers have sown metha extensively. Due to this, production is expected to increase by 30-40%. In this way, there are signs of softening in Mentha oil prices further. In the June contract of Mentha Oil, it is advisable to sell for Rs 1310-1315. You should keep a stoploss at the price of Rs 1325 and in today's session you should have a target of 1270 rupees per kg.
According to Abhijeet Banerjee, Senior Manager (Research) of Religare Securities, buying in spot prices is showing firmness in futures prices. Supply is very low in producing areas. Sell in June contracts for Rs 1315 In two days, the price can fall to Rs. 1260 per kg.
India is the largest producer and exporter of mentha oil and its derivatives. According to traders, the total production this year is estimated to be 35-40 percent more than 48,000 tonnes to 50,000 tonnes. The production last year was between 33,000 to 35,000 tonnes. India exports 70 percent of its annual domestic production.
For more information Top 10 advisory company in Indore
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