MCX Mentha oil futures gained Monday on short covering by the tarders due to firm demand from the industiral markrets amid limited stocks from the producing regions. At MCX mentha oil October contract is trading at Rs. 1374 per Kg, higher by 2.81 per cent against the previous close.
In the morning session the contract traded at a range of Rs.1342-1376.60 per Kg. Open interest of the contract is 3323 lots and volume traded is 3968 lots for the time being. Increased demand from the domestic as well as exporters amid reports of lower production in the producing regions, mainly influenced the trading sentiment.
Commodity Outlook
Overall Fundamentals are expected to remain firm as export and domestic demand from pharmaceutical Industries are likely to pick up at these lower levels in coming weeks.
Courtesy : CommodityOnline
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