Wednesday, 23 July 2014

Today's Mentha Oil Rate in Indian Commodity Market

Mentha oil prices trade down and ended at Rs. 711 down by Rs. 5 from its previous close while it had declined from an intraday high of 726. 30. We have been talking about Mentha market dynamics in our report and it has been understood that it’s the supply side of the commodity that is now keeping the prices lower. As on Monday, we saw in the Chandausi and Bara bank markets of UP mentha prices traded down at Rs. 730 and Rs. 720 respectively while the daily arrivals are around 200 drums. As we also understand, the due to harvesting season a good amount of supply is coming into the market and that should keep the commodity price lower in the near term. 
In addition, there has been major demand yet seen from the physical market locally while no consignments are noticed from the global markets for exports. Hence, prices are trading down. Also, the better than anticipated progress of monsoon in July is keeping the commodity lower. We believe for the very near term the commodity may trade down and we recommend selling from higher levels.

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