On Friday, it has been advised to sell it to people in the futures market due to the limited trading conditions of Mentha Oil prices. Around 10.30 am, commodity exchange MCX was trading at Rs 1,482 per kg with Mantha Oil's April contract rising by Rs 2 or 0.14 per cent. The price of Mentha oil was closed at Rs 1,480 at the bullion.
According to Abhijit Bannerjee, Senior Research Manager (Commodity Division) of Religare Securities, unless the value of Mentha Oil ticks above Rs 1,500 The possibility of acceleration in this is very low. The short term is expected to remain in the range of 1430-1490 rupees.
According to Banerjee, this year Manntha's bumper crop is being estimated. From this, in the next one and a half to two months, prices of Mentha Oil are seen to be under pressure. In view of this, mentha oil is advised to sell in April contract on MCX. Selling in Mentha Oil around the price of Rs. 1495 should be done. Keeping a stoploss at a price of Rs 1610, the target of Rs 1450 per kg should be made in two seasons.
Due to the current demand of Mentha being very low and due to the inward arrival of new crop of mentha oil coming from next month, Ajay, the director of the Kedia Commodity, says that investors should sell Mentha Oil at MCX at Rs. 1490 in April futures. Should sell. Keeping a stoploss at a price of Rs 1505, in today's session, the target should be Rs. 1460 per kg.
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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| Mentha Oil prices |
According to Abhijit Bannerjee, Senior Research Manager (Commodity Division) of Religare Securities, unless the value of Mentha Oil ticks above Rs 1,500 The possibility of acceleration in this is very low. The short term is expected to remain in the range of 1430-1490 rupees.
According to Banerjee, this year Manntha's bumper crop is being estimated. From this, in the next one and a half to two months, prices of Mentha Oil are seen to be under pressure. In view of this, mentha oil is advised to sell in April contract on MCX. Selling in Mentha Oil around the price of Rs. 1495 should be done. Keeping a stoploss at a price of Rs 1610, the target of Rs 1450 per kg should be made in two seasons.
Due to the current demand of Mentha being very low and due to the inward arrival of new crop of mentha oil coming from next month, Ajay, the director of the Kedia Commodity, says that investors should sell Mentha Oil at MCX at Rs. 1490 in April futures. Should sell. Keeping a stoploss at a price of Rs 1505, in today's session, the target should be Rs. 1460 per kg.
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 regular updates on the stock market, please click on our Facebook page. Click here to like this page.
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