Commodity Tips Expert: Mentha Oil Below 1600, Such A Raise Advantage

As a Commodity Tips Expert Report Mentha oil reached below Rs 1600. However, on the first day of the new week, it grew fast. On the commodity exchange MCX, on the MCX, Mentha Oil's April contract moved up by Rs 14.60, or 0.92 percent to Rs 1594.70 per kilogram.

Rudra Investment Expert says that the price of Mentha Oil on MCX has slipped below the critical level of Rs. 1600 / - per kg. According to them, next month Mentha Oil will start coming in new crop circles. Looking at this, there are signs of heaviness on further prices. His mentha oil is advised to sell at a price of Rs 1600 in the April contract. Keeping a stop loss at a price of Rs 1622, investors should set a target of Rs 1565 per kg in two seasons.

According to Commodity Tips Expert, today prices of Mentha Oil are showing an upward trend due to the increase in purchasing from the lower level. But with the possibility of new crop coming in, the possibility of selling of stockists may again show pressure on prices. Investors are advised to sell on fast in today's business.

Mentha is the most used in confectionery products, along with 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.