Mentha oil on MCX settled up 1.28% at 1397.4 amid improved demand from consuming industries at the domestic spot market. Further, lower arrivals from major producing belts of Chandausi in Uttar Pradesh also supporting prices. However, upside seen limited amid expectations of higher acreage under mint in 2019 due to lucrative prices throughout last year. Export demand of oil in global market is likely to be improved due to recovery in currency which is supportive for prices.
Trading Ideas:
* Mentha oil trading range for the day is 1363.8-1422.2.
* Mentha oil spot at Sambhal closed at 1539.10 per 1kg. Spot prices was remain unchangeby Rs.0.00/-.
* Menthaoil settled up amid improved demand from consuming industries at the domestic spot market.
* Further, lower arrivals from major producing belts of Chandausi in Uttar Pradesh also supporting prices.
* However, upside seen limited amid expectations of higher acreage under mint in 2019 due to lucrative prices throughout last year.
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