In the last trading session of the week Report By Commodity Tips Expert, there is heaviness in the prices of mentha oil in the futures market. Morning contracts of Mentha Oil on the commodity exchange MCX rose by Rs 3.80, or 0.22 per cent, to Rs 1,888.50 per kilo on a commodity exchange around 10.35 am this morning.
According to The Rudra Investment Advisory Firm the price has dropped again due to profit level at the upper level. They says that in today's Kapovers, Mentha Oil's March contract is sold at around 1700 rupees per kilogram.
Keeping a stop loss at a price of Rs. 1710, investors should set a target of 1645-1640 rupees per kg in two business sessions. Commodity Tips Expert Says that the volume is quite low in the forward market. Apart from this, production of Mentha Oil is estimated to increase this year. Even further, there are signs of pressure in the spirit. Mentha is the most used in cosmetics products as well as medicines, beauty products, toothpaste. India is the largest producer and exporter of the world.
The highest yield of mentha is in UP. UP's share in the production of total mentha oil in the country is about 80 percent. Districts of Western UP, Sambhal, Rampur, Chandausi Mentha are major producers, while Barabanki district near Lucknow is also the main producing area of Mentha Oil. FMCG companies, such as Dabur, Emami, Patanjali, make a big purchase on Mentha Oil.
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