Mentha Oil Price Today, Mentha Oil Rate in India: Mentha continues to decline on Thursday.
Mentha Oil Price Today Latest News
Mentha Oil saw a decline on Wednesday. On Wednesday, Mentha settled at a price of Rs 1274.2 per kg, up by 0.73 per cent. At the same time, there is a selling pressure on Thursday. Today mentha oil is trading at a level of Rs 1272.10 per kg with a weakness of about Rs 2.10. Today it was opened at a price of Rs 1271.60. Expert says that due to long liquidity, Mentha has broken below the important level of 1275 and gone below it. Demand in the spot market is also very weak. In such a situation, Mentha’s sentiments remain weak. Talk about today, selling pressure is visible on Mentha. Investors should make a profit when prices rise. Today, Mentha will be supported at the level of 1270 at the bottom.
Shop only when mentha declines
Ajay Kedia, director of Kedia Advisory, says that there are no positive signs about Mentha yet. Industrial demand also remains weak. Due to long liquidity, Mentha broke the level of 1275 and went below it. Strong support is seen in Mentha today at Rs 1270. If this level is broken, there may be a big drop in mentha. Mentha may weaken to the level of 1230. He says that if we talk about the coming days, Mentha can be seen to be trading in the range of 1230 to 1300. In the coming days, if there is a purchase by international buyers, Mentha can get some support from the lower levels.
The advice to investors is that if there is a recovery in the prices, then the profits should be recovered. Kedia says that if we talk today, there is support at Rs 1269.9 from below. If this price breaks, Mentha may weaken to Rs 1265.6. At the same time, it has a strong resistance at the price of Rs 1281.1, if this level breaks, Mentha can go to the level of 1288. Mentha can be seen trading in the range of 1265.6-1288 today.
Industrial demand in winter
Every year it is seen that domestic and global demand of mentha oil increases in winter. Apart from the pharma industry, mentha oil is also used by FMCG and cosmetic companies. If exports increase, then Mentha prices will get further support due to decrease in stock. Let me tell you, India is the world’s largest mentha oil producer and exporter. Mentha oil production is estimated at 48,000–50,000 tonnes this year. Last year it was between 33,000-35,000 tonnes. According to data from the Central Institute of Medicinal and Aromatic Plants (CIMAP), mentha has been sown heavily by farmers this year. The sowing area has reached about 3 lakh hectares.