Mentha Oil Price Today, Mentha Oil Rate in India: There is selling pressure in Mentha on Wednesday too.
Mentha Oil Price Today Latest News
Mentha Oil saw a fall on Tuesday. Mentha settled at a price of Rs 1283.60 per kg, up by 0.53 per cent on Tuesday. At the same time, pressure is being seen again in Mentha on Wednesday. Mentha Oil is trading at a level of Rs 1282.10 per kg with a weakness of around Rs 1.50 today. Today it was opened at a price of Rs 1281. Expert says that Arrival from main producing state UP in Mentha is weak, while 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. If prices rise, then investors should make a profit. Today, Mentha will be supported at the level of 1277.6.
Shop only when mentha declines
Ajay Kedia, director of Kedia Advisory, says that weak sentiment continues in Mentha. There is neither much arrival nor new demand. Industrial demand also remains weak. Due to this, selling pressure is visible in Mentha. He says that mentha has remained below 1290 rupees per kg. If it is not able to break the mentha level then it can be seen to fall by Rs 1270. However, there are reports that some international boys are present here, due to which there is no fear of further decline in Mentha. In the coming days, if there is a purchase by international buyers, then Mentha may gain from lower levels.
The advice to investors is that if you want to buy, then wait for the further fall in prices. There will be a good opportunity to invest in mentha around Rs 1270. From here, up to Rs 1300 can be seen in Mentha. Kedia says that if we talk today, there is support at Rs 1277.6 from below. If this price breaks, Mentha may weaken to Rs 1271.7. At the same time, it has strong resistance at the price of Rs 1290, if this level breaks, Mentha can go to the level of 1296.5.
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, Mentha prices will get more 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.Get Business News, Latest India News, Sports News and other Breaking News on Investment Schemes, Share Market and much more on 24 x 7 News. We are happy to provide you best news happening around