SEBI Registered Free Commodity Tips Expert Mentha oil prices continue to refuse. In the initial trading on Friday, Mentha Oil's April contract fell by Rs 1.60 or 0.10 per cent to Rs 1,534 per kilogram on the MCX.
According to Rudra Investment Financial Services the price of Mentha Oil remained below the critical level of Rs. 1550. This trends can continue even further.
In view of this, mentha oil is advised to sell in April contract. They says that the price of Rs 1545 should be sold at Mentha Oil. Keeping a stop loss at a price of Rs 1555, the target of 1500 rupees per kg should be made in two seasons. Selling is continuing in the market before arrival of new crop. The new crop of mentha will start coming in markets around May 15.
According to Rudra Investment Free Commodity Tips Expert, the BASF SE, a German manufacturer of synthetic mentha, has resumed delivery of synthetic mentha oil. This step will also cause heaviness on prices in the domestic market. BASF is the world's largest maker of synthetic mentha.
Apart from this, the weak demand for mentha oil from the US and China may also see further fall in Mentha Oil prices. In today's session, it is advisable to sell MCX around Rs 1540-45. By next week, the price can slip to Rs 1,480 per kg.
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