Rudra Investment Free Commodity Tips Expert Said Mentha Oil got a good start in the early trading on Wednesday. Mentha oil on the commodity exchange MCX rose by Rs 26.20 or 1.64 percent to Rs 1,623 per kg on Monday, around 10:30 am.
According to Rudra Investment, there are reports of delay in sowing of mentha from producing areas. Apart from this, the biggest reason for today's fasting is the possibility of Al Nino impact on the monsoon. Due to this, the conditions of drought in India can be a monsoon. For this reason, the production of mentha oil can be lower than expected. They say that MCX has a buying recommendation in today's business. Investors are advised to buy a price of Rs 1615 in April contract. Investors should have a stop loss at a price of Rs 1595.
In today's business, the price of mentha oil could show a level of Rs 1656 per kg. According to Free Commodity Tips Expert, Mentha, along with El Niño in the whole agri market, has been steadfast. They say that in two trading sessions, the price of Mentha Oil could show a level of 1650 rupees per kilogram.
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. According to the industry's estimates, the production was between 45,000-48,000 tonnes in the world in the previous year. Out of this, India alone produced 30,000 tonnes of mentha oil.
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