your password has been reset successfully, Please login again.

Demand For Mentha Oil Staggers In The Domestic Market

The trade of Mentha Oil has decreased which begets squeezing Mentha Oil in a narrow range
BY BEx Bureau
BusinessEx
Mar 08, 2019

The demand for Mentha Oil is likely to sag in the offing. On Friday, the trade of Mentha Oil has decreased which begets squeezing Mentha Oil in a narrow range, as reported by the Indian daily news, The Economic Times.

Mentha Oil is extensively produced in India. Besides India, the US, China and Brazil are also major producers of the mint oil. Currently, 15000 tonnes of mint oil is produced in India and 3000 tonnes from the produced share is exported.

At 12ish, the price of MCX Mentha Oil was INR 1,623.10 per kg, surging by INR 2.40. The softening demand and stocks of Mentha Oil were gauged.

"Mentha oil continues to trade in a narrow range as traders see prices in equilibrium for the fourth consecutive day. Despite a comfortable supply in spot markets, prices are seeing a bottoming formation at every important support," said Mustafa Nadeem, CEO at Epic Research, as reported by the Indian daily news, The Economic Times.

Further, Nadeem said, "This is the fourth consecutive week when we are seeing speculators coming in at lower levels of INR 1,580-1,590. We consider these levels very important and remain a buyer on dips with stops placed below INR 1,580 for an upside to INR 1,670-1,690. as reported by the Indian daily news, The Economic Times.

Please add your Comment
SIMILAR News
August 22, 2019
The stakes were bought by several foreign portfolio investors as well as domestic mutual funds. ...More
By Jaspreet Kaur
August 22, 2019
Online gaming firm, Global eSports has amassed an undisclosed sum in a seed funding round from VC fi ...More
By Jaspreet Kaur
August 21, 2019
The company will employ funds for business expansion and to release a new product, Explorazor. This ...More
By Jaspreet Kaur
August 21, 2019
Software startup, Ally proclaimed to INR 57 crore in Series A funding round led by VC, Accel. ...More
By Jaspreet Kaur
August 20, 2019
MPOWER, which is backed by the PE firm, Zephyr Peacock, will utilise the funds to widen its reach to ...More
By Jaspreet Kaur
August 17, 2019
With Sistema Asia Capital’s investment, the aggregate equity funding of Lendingkart has surged to $1 ...More
By Jaspreet Kaur
August 17, 2019
Investors, who partook in the funding round, were Inventus Capital, Storm Ventures, Emergent Venture ...More
By Jaspreet Kaur
August 16, 2019
UK-based company sold 67.1 million stakes at INR 480.7 epiece, according to the stock-exchange data. ...More
By Jaspreet Kaur
August 14, 2019
Indian ride-hailing firm, Ola has proclaimed to buy Pikup.ai, an AI platform, which renders tech sol ...More
By Jaspreet Kaur
August 14, 2019
Indian online platform, Tjori has amassed INR 5 crore in pre-Series A round from a cohort of investm ...More
By Jaspreet Kaur
August 12, 2019
The automotive manufacturer’s products comprise telematic devices, instrument cluster, and other dat ...More
By Jaspreet Kaur
August 12, 2019
RadhaKishan Damani, who is an active promoter of supermarket company, Avenue Supermarket, has recent ...More
By Jaspreet Kaur