Mentha Oil Price Today 26 August 2020
Mentha Oil September futures saw profit recovery on Tuesday. On Tuesday, Mentha settled 0.75 per cent weaker and settled at Rs 1007.3 per kg. On Wednesday, Mentha is trading about Rs 10 to Rs 1017 per kg. On Monday, Mentha settled 0.65 per cent weaker and settled at Rs 1014.9. Expert says that there has been a good recovery in mentha in the last days, after which profit recovery is also coming. However, the prices are expected to get further support. 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 yields of farmers have reached the market now, due to which there may be some shortages.
How was Mantha’s move in the past
On Tuesday, Mentha settled 0.75 per cent weaker and settled at Rs 1007.3 per kg. 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 with a rise of 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.
How to trade in Mentha
Ajay Kedia, director of Kedia Advisory, says that today, Mentha has support at Rs 999.7. If this level breaks, then mentha can come at the rate of Rs 992.1 per kg. On the other hand, there was resistance in Mentha at Rs 1016.2. This sentiment is broken today. In such a situation, Mentha can see a price of Rs 1025.1. If mentha falls from the current level, then it is advisable to buy. Mentha can show 1050 levels in the next few days.
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 producer and exporter of mentha oil. 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, foreign demand more than domestic plays a big role in fixing prices.
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