Mentha oil futures gained Friday on firm domestic demand from the pharmaceutical industries amid weak arrivals from the fresh crop.
In NCDEX mentha oil March contract hits upper circuit at Rs.2110.50 per Kg, up by 4% against the previous close. Open interest of the contract is 4197 lots and volume traded is 9160 lots for the time being.
Good demand from the International markets and the domestic pharmaceutical Industries was noted. Low production and lower stock levels too supported the market sentiments. Traders expect an overall Bullish trend to prevail in the markets as arrivals in the mandis remained moderately low.
Commodity Outlook
The trend is likely to remain volatile in the short term as the higher levels too have not been sustainable. But medium term sentiments look positive on an expected pick up in demand in coming weeks.
0 comments:
Post a Comment