Mentha Oil Price Today: The flat is being traded in Mentha on Wednesday.
Mentha Oil Prices Today: Today, flat trading is being seen in Mentha Oil. Mentha is trading at a price of Rs 1001 per kg. Mentha oil has gained a lot in the past and in a few trading sessions it has reached the level of 950 to 1015 rupees. After which investors are making profits. Mentha also lost 0.3 per cent on Tuesday to close at Rs 1001.10 per kg. On Monday, Mentha settled 0.46 per cent lower and settled at Rs 1004.1. While on intraday, mentha reached the price of Rs 1016.
Ajay Kedia, MD of brokerage firm Kedia Advisory, says that this decline in mentha is due to profit booking. Although Mentha’s sentiments are now better than before. Apart from winter demand, exports are expected to increase due to increasing global demand. Demand from the pharma and fragrance industry is now improving. Talking about the long term, by the half-year of 2021, mentha can touch the price of Rs 1300 back. This year Mentha touched a level of Rs 1250 in March, after which it has been declining.
How to earn in mentha
Ajay Kedia, director of Kedia Advisory, says that if we talk today, Mentha has support at the downward price of Rs 997.4. When this level breaks, Mentha can be priced at Rs 993.8 per kg and this level can also come at the rate of Rs 988.5 per kg. On the other hand, Mentha has a resistance at Rs 1006.3. Mentha Rs 1011.6 if this level is broken and Mentha can be strengthened to Rs 1015.2 per kg if this level is also broken. If the decline in the short term increases slightly, then from the level of 990, in the next one to two days, a purchase can be made with a target of 1025 to 1030 rupees.
Where is mentha used
Mentha oil is most used in pharma industry, cosmetic industry, FMCG sector as well as confectionery products. India is the world’s largest mentha oil producer and exporter. 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, this year, yields can be between 40,000-56,000 tonnes, staying 40 per cent higher. 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.
