Mentha Oil Price Today: Mentha Oil is seeing weakness in September futures on Monday. Mentha today weakened more than 5 rupees and went down to 1000 rupees per kg. Earlier on Friday, Mentha was up by 0.18 per cent and closed at Rs 1004.5 per kg. On Thursday, mentha weakened about 1.3 percent and settled at Rs 1002.7 per kg. Expert says that there has been a good recovery in mentha in the past, after which investors have booked profit. However, the mentha is expected to grow further, so after the decline, there have been shopping opportunities in mentha.
The economy is slowly coming back on track in the country and abroad. With the increase in industrial activity, the demand for mentha has also increased slightly. Mentha is used more in pharma and FMCG companies. On the other hand, most of the yields of the farmers have reached the market in this season, due to which the demand may see some shortages if there is demand.
How was Mantha’s move in the past
On Friday, mentha was up by 0.18 percent and closed at Rs 1004.5 per kg. On Thursday, mentha weakened about 1.3 percent and settled at Rs 1002.7 per kg. On Wednesday, Mentha settled at a price of Rs 1015.9 with a gain of 0.85 per cent. On Tuesday, mentha weakened by about 0.75 per cent and settled at Rs 1007.3 per kg. On Monday, Mentha settled 0.95 per cent weaker and settled at Rs 1014.9 on Monday.
How to trade in Mentha?
Ajay Kedia, director of Kedia Advisory, says that today, Mentha has broken the support level of Rs 1000.5. In such a situation, weakness can increase in mentha today. On the other hand, there is a resistance in Mentha at Rs 1009.3. If this price breaks today, Mentha can see a price of Rs 1014. Currently, if mentha falls from the current level, then it is recommended to buy it around 990 rupees. Mentha can show a level of Rs 1030 in the next few days.
Mentha’s Industrial Use
Mentha oil is most used in the 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 per cent 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, more foreign demand than domestic plays a big role in fixing prices.
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