Mentha oil futures declined today on profit booking by the traders due to higher arrivals from the fresh crop. Sluggish demand from the fresh crop also put pressure on the futures to trade higher.
At MCX Mentha oil September contract is currently trading at Rs.1227 per Kg, a decline of 0.02% against the previous close.
Traders expect medium term trend to remain up as demand is expected to rise further in the coming weeks. But some intermittent profit booking at the higher levels too cannot be ruled out.
Expected rise in export and domestic demand from pharmaceutical Industries are likely to provide support to prices in the medium term as per traders.
At MCX Mentha oil September contract is currently trading at Rs.1227 per Kg, a decline of 0.02% against the previous close.
Traders expect medium term trend to remain up as demand is expected to rise further in the coming weeks. But some intermittent profit booking at the higher levels too cannot be ruled out.
Expected rise in export and domestic demand from pharmaceutical Industries are likely to provide support to prices in the medium term as per traders.
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