Free Commodity Tips: Mentha Oil Returns On MCX

Mentha oil gained momentum, as demand from side industries such as pharma companies and FMCG companies enlarged. Free Commodity Tips Expert says Today, in the domestic dealing, the price of Mentha Oil's October contract in the domestic futures market was up virtually one percent.

Check the price of Mentha oil

In the Multi Commodity Exchange (MCX) in October, the price of Mentha Oil, which traded in October, moved up by Rs 14.20, or 0.83 percent to Rs 1718.10 per kilogram. During this, trading volumes remained in 71 lots.

Similarly, on the MCX, Mentha Oil's second close contract, November, futures prices rose by Rs 8.60 or 0.50 percent to Rs 1,732 per kg.

According to Free Commodity Tips experts, the prices of Mantha Oil's major producing areas, Uttar Pradesh's Chandausi, Sambhal and Barabanki, have helped in the prices. Sources in the market say that with strong demand from customer industries in the Chandausi spot markets, the stockories have bigger their stock positions. This has led to an amplify in the prices of mentha oil in the futures trade.

According to sources, before the winter season, pharmaceutical companies and FMCG companies have enlarged their purchases. For this reason, the value of mentha oil has enlarged. While pharmaceutical companies use Mentha oil on a big scale in making cough syrup, FMCG companies use it to make confectionary products and toothpaste.