Mentha oil futures corrected on Tuesday on account of selling seen at higher levels and increasing of the arrivals due to liquidation of stocks at the end of the current marketing year and of reports that the acreage may increase for the next marketing year by around 20% on higher realisation.
The futures hit the 4% circuit breaker in the later part of the day. The spot as well as the futures settled lower by 2.49% and 4% respectively.
Total special cash margin of 25% on the long side has been imposed
on all contracts of Mentha oil from March 9, 2012. For detailed reference please refer to the Circular No: MCX/T&S/074/2012 dt 06/03/2012.
Production, Arrivals And Exports
According to market sources, sowing of Mentha in Western UP is expected to increase by 30% as compared to last year, while sowing in all regions is expected to increase by 20%.
Arrivals in entire UP stand around 130 drums (1drum – 180 kgs) daily. Exports of Mentha during April 2011 to January 2012 witnessed a ecline of 6% to 12,850 tonnes as compared to 13,550 tonnes in the same period last year.
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MCX Mentha Oil Declines On Selling Pressure: April 18, 2012
Published 04/18/2012, 04:02 AM
Updated 05/14/2017, 06:45 AM
MCX Mentha Oil Declines On Selling Pressure: April 18, 2012
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