Mentha Oil Price Today – 25 August 2020
Mentha Oil September futures saw profit recovery on Monday. On Tuesday, there is pressure on Mentha’s prices. On Monday, Mentha settled 0.95 per cent weaker and settled at Rs 1014.9. On Tuesday, Mentha is trading at a price of Rs 1012 per kg, weakening by about Rs 3. On Friday, Mentha settled at Rs 1014.7 per kg, up by 0.7 per cent.
Expert says that good recovery was seen in mentha in the last days. After which some profit has been realized in it. If something else falls, there will be an opportunity to shop in Mentha for the short term. He says that since the lockdown has opened, gradually the work in industries is increasing, due to which the demand of Mentha in the spot market may increase. Mentha is used more in pharma and FMCG companies. On the other hand, most of the farmers have now brought the product to the market.
How was Mantha’s move in the past?
On Monday, Mentha settled 0.95 per cent weaker and settled at Rs 1014.9. On Friday, Mentha settled at Rs 1014.7 per kg, up 0.7 per cent. Mentha settled at Rs 1007.6 per kg on Thursday with a gain of 0.3 per cent. 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.
How to trade in Mentha?
Ajay Kedia, director of Kedia Advisory, says that today, Mentha has support at Rs 1002.6. If this level breaks, Mentha can come at the rate of Rs 990.3 per kg. On the other hand, there is a resistance in Mentha at Rs 1032.6. If this price is broken, Mentha can see a price of Rs 1050.3. 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 mostly used in the 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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