Mentha oil prices fell by Rs 22.50, or 2.14 per cent to Rs 1,027.20 per kg in futures trade today as speculators booked profits amid subdued spot demand against adequate stock following increased arrivals from producing regions.
At the MCX mentha oil for delivery in June shed Rs 22.50, or 2.14 per cent, to touch Rs 1,027.20 per kg, with a business volume of 721 lots.
Similarly, mentha oil prices for July delivery declined by Rs 20.90, or 1.96 per cent, to Rs 1,045 per kg, with a business turnover of 286 lots.
The fall in mentha oil prices at futures trade was mainly due to profit-booking by speculators and a weak trend at spot market on subdued demand.
Technically market is under fresh buying as market has witnessed gain in open interest by 6.07% to settled at 5625 while prices up 12.3 rupee, now Menthaoil is getting support at 1035.6 and below same could see a test of 1021.4 level, And resistance is now likely to be seen at 1064.5, a move above could see prices testing 1079.2.
At the MCX mentha oil for delivery in June shed Rs 22.50, or 2.14 per cent, to touch Rs 1,027.20 per kg, with a business volume of 721 lots.
Similarly, mentha oil prices for July delivery declined by Rs 20.90, or 1.96 per cent, to Rs 1,045 per kg, with a business turnover of 286 lots.
The fall in mentha oil prices at futures trade was mainly due to profit-booking by speculators and a weak trend at spot market on subdued demand.
Technically market is under fresh buying as market has witnessed gain in open interest by 6.07% to settled at 5625 while prices up 12.3 rupee, now Menthaoil is getting support at 1035.6 and below same could see a test of 1021.4 level, And resistance is now likely to be seen at 1064.5, a move above could see prices testing 1079.2.
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