Mentha Oil Price Today: Mentha Oil August futures are also seen on Monday. In today’s business, Mentha strengthened and crossed Rs 1020 per kg. At the same time, after the profit recovery on Friday, it returned again later and it settled at Rs 1014.7 per kg with an increase of about 0.7 percent. Mentha settled at Rs 1007.6 per kg on Thursday with a gain of 0.3 per cent.
Expert says that after recovery of profits on Friday, mentha increased in mentha. Demand for mentha has increased in the spot market. Since the lockdown opened, work in industries is gradually increasing, due to which the demand of Mentha is increasing. Especially from the demand from pharma and FMCG companies, mentha prices are getting support. On the other hand, most of the farmers have now brought the produce to the market. In such a situation, it is believed that supply may decrease if demand increases.
How was Mantha’s move in the past
On Friday, Mentha settled at Rs 1014.7 per kg, up 0.7 per cent. 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.
How to trade in Mentha
Ajay Kedia, director of Kedia Advisory, says that today, Mentha has support at Rs 1003.4. If this level breaks, Mentha can come at a price of Rs 992.2 per kg. If this level is also broken, Mentha may weaken to Rs 981.9. On the other hand, there is a resistance in Mentha at Rs 1024.9. If this price is broken, Mentha can see a price of Rs 1035.2 and then Rs 1046.4. If Mentha falls from the current level, then it is advisable to buy it at the rate of Rs. 1010. Mentha can further strengthen up to Rs 1040.
Mentha’s Industrial Use
Mentha oil is most used in pharma industry, cosmetics industry, FMCG sector as well as confectionery products. India is the world’s largest mentha oil producer and exporter. The highest yield of mentha oil is 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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