Rudra Investment expert says about Commodity Tips Mentha oil got a boost in on Monday. Today, in the domestic business, the price of October contract of Mentha Oil in the domestic futures market was trading up by half a percent. This is due to the demand for Mentha Oil from Pharma and FMCG companies.
Check the price of mentha oil
Around Rs 10.30 in the Multi Commodity Exchange (MCX), Mentha oil for delivery in October moved up by Rs. 7.20 or 0.43 percent to Rs. 1,688 per kilogram. During this, trading volumes remained in 218 lots.
Similarly, on the MCX, Mentha Oil's second close contract, November, futures prices moved up by Rs 9.90, or 0.58 percent, to Rs 1,707.50 per kg.
According to experts of Rudra Investment says Commodity Tips, the prices of Mentha Oil's major producing areas, Uttar Pradesh's Chandausi, Sambhal, and Barabanki, have helped in the prices. Sources in the market say that with strong demand from consumer industries in the Chandausi spot markets, the stockpiles have increased their stock positions. This has led to an increase in the prices of mentha oil in the futures trade.
Prior to the winter season, the drug and FMCG companies have increased their purchases. For this reason, the price of mentha oil has increased. Drug companies use Mentha Oil on a large scale in making cough syrup. FMCG companies use it to make confectionery products and toothpaste.
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