Mentha Oil Price Today
Mentha Oil August futures have seen a boom on Friday. Today Mentha is trading at a rate of Rs 1008 with lightning speed. Mentha settled 0.3 per cent stronger at Rs 1007.6 per kg on Thursday. On Wednesday, Mentha closed at Rs 1004.6 per kg, up 0.24 percent.
Expert says that demand for mentha has increased in the spot market. Demand from the industry is increasing gradually since the lockdown opened. Especially from the demand from pharma and FMCG companies, mentha prices are getting support. At the same time, this year due to the arrival of most of the crops in the market, further supply may be tight. In such a situation, some more fast is expected.
How was Mantha’s move in the past
Mentha settled 0.3 per cent stronger at Rs 1007.6 per kg on Thursday. On Wednesday, Mentha closed at Rs 1004.6 per kg, up 0.24 percent. On Tuesday, Mentha settled at a price of Rs 1002.2 per kg with a spurt of 1.89 per cent. On Monday, Mentha settled 0.73 percent stronger and settled at Rs 983.6 per kg. On Friday, mentha weakened by about 0.15 percent and settled at Rs. 976.5 per kg. Mentha settled 0.36 per cent weaker and settled at Rs 978 per kg on Thursday.
How to trade in Mentha
Ajay Kedia, director of Kedia Advisory, says that today, Mentha has support at Rs 998.4. If this level breaks, Mentha can come at the rate of Rs 989.3 per kg. On the other hand, there is a resistance in Mentha at Rs 1013.2. If this price is broken, Mentha can see a price of Rs 1018.9. For the time being Mentha comes from here at the level of 990 to 1000 rupees, then you can buy by making a target of 1030 rupees.
Where mentha is used
Mentha oil is most used in pharma industry, cosmetics industry, FMCG sector as well as confectionery products. India is the world’s largest producer and exporter of mentha oil. The highest yields of mentha oil are in UP. UP accounts for about 80 percent of the total mentha oil production in the country.
In the previous season, mentha oil production was very high. According to market sources, the yields could be between 40,000-56,000 tonnes this year, up by 40 per cent. Due to this, the availability of mentha was very high and the prices could not rise much. About 75 percent of mentha oil produced in the country is exported. Therefore, foreign demand more than domestic plays a big role in fixing prices.
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