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MCX Mentha Oil Finishes Up On Rsing Spot Demand: April 16, 2012

ByCommodityOnline
Published 04/16/2012, 04:38 AM
Updated 05/14/2017, 06:45 AM
IMOEX
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Mentha oil futures witnessed as very volatile session on Thursday amidst reports that The Department of Consumer Affairs is keeping a close watch on the price movements in the futures market of Mentha oil. Reports of delay in sowing of the Mentha crop supported the prices.

The futures settled marginally lower by 0.28% while the spot settled marginally higher by 0.14%.

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 decline of 6% to 12,850 tonnes as compared to 13,550 tonnes in the same period last year.

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