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THE CROP OF MENTHA OIL IS COMING SOON .AND THE BUYERS OF MENTHA PRODUCT ARE NOT ENOUGE TO HOLD THE MARKET. SO MENTHA OIL PRICE WILL BR DOWN SOON....
prices failed to reverse the trend and ended the week
on slightly lower note down by 1.92 per cent...
Spot prices also
followed futures trend improved a bit to Rs. 1500-1600 per Kg. on Saturday from Rs. 1480-
1500 Kg later in the week...
However,
later on prices recovered from earlier losses on short covering at lower levels...
Heavy speculative activities before arrivals starts coming to the market are
keeping prices under pressure and prices at futures are hitting 4% lower circuit...
For entire week prices remained down side biased in absence of fresh
market cues...
Mentha oil prices continued the bearish trend for 6th week on back of higher
production estimates...
However, buying in June contract and selling in May contract will be an ideal spread
strategy to follow in coming week...
Reports of rise in production estimates
are weighing on prices. According to trade sources, big market players are keeping prices
under pressure before arrival season starts so that they can start buying at lower levels...
According to
traders, 80-90% sowing has been completed in UP...
