Mentha Oil Rate Today fell 0.6% April 5, 2024 4:59 PM. Mentha crude futures contracts expiring on June 28, 2024 fell to ₹915.00. In the past 1 day, the Mentha oil rate on MCX decreased by 0.6% from ₹925.70 to ₹915.00.
Mentha oil is an essential oil obtained from mint plant and India is one of the leading producers and exporters of mint oil. Mentha oil is used in food, pharmaceuticals, soaps and other skin/personal care products.
Mentha oil trading trades on commodity exchanges such as MCX, where traders can buy or sell Mentha oil contracts. Mentha oil is produced in different states of India such as Uttar Pradesh, Bihar, and Punjab.
Mentha oil exchange rate remains quite volatile and Indian exporters have been exposed to this price volatility, said MCX India. MCX has liquid futures contracts for the peppermint oil rate – this can help traders hedge their bets, the exchange said on its website.
What are the factors that govern the Mentha oil price?
Certain international factors such as – demand from importing countries such as the United States and China – move the prices. At home, climate changes like cold waves and unseasonal rains are some factors that drive the Mentha oil percentage in the market. Mentha oil exchange rate is also sensitive to the USD-INR exchange rate due to the import-export equation.
Stocks of Mentha oil in warehouses accredited by MCX carry forward stocks, and stocks available with farmers are key indicators of supplies and influencing prices, according to the MCX India website.
What are Mentha oil contract specifications?
Price Quote Unit | Deadline | Average Price (Rs./Unit) | close | volume (Lots) | Business Unit | OI (Lots) |
KGS | 30 Apr 2024 | 912.99 | 906.80 | 360 | KGS | 557 |
KGS | 28 June 2024 | 920.48 | 920.50 | 360 | KGS | 91 |
KGS | 31 May 2024 | 920.17 | 916.20 | 360 | KGS | 130 |
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Published: 06 Apr 2024, 09:00 IST