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Petroleum industry

Mentha Oil Futures Trade Higher on MCX Amid Speculation and Tight Stocks

Strategic Insights

— 1 min read

Mentha oil futures on MCX surged as speculators expanded their positions in response to increased demand from consuming industries in the spot market, while tight stocks in the physical market due to restricted arrivals from Chandausi in Uttar Pradesh supported the uptrend in mentha oil prices at futures trade. The May delivery contract traded at Rs 923.00/Kg, up 0.70% from the previous closing of Rs 916.60/Kg. The open interest for the May contract stood at 2306 lots, while the June delivery contract traded at Rs 937.40/Kg, up 0.69% from the previous closing of Rs 931.00/Kg, with an open interest of 5919 lots.

Key Takeaways:

  • Mentha oil futures on MCX traded higher due to increased demand from consuming industries in the spot market.
  • Speculators expanded their positions, contributing to the uptrend in mentha oil prices at futures trade.
  • Tight stocks in the physical market, caused by restricted arrivals from Chandausi in Uttar Pradesh, supported the mentha oil price uptrend.
  • The May delivery contract traded at Rs 923.00/Kg, a 0.70% increase from the previous closing of Rs 916.60/Kg.
  • The June delivery contract traded at Rs 937.40/Kg, a 0.69% increase from the previous closing of Rs 931.00/Kg.
  • The open interest for the May contract stood at 2306 lots, while the June contract had an open interest of 5919 lots.
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Statistics:

  • Mentha oil futures traded with a 0.70% increase for the May delivery contract.
  • The May delivery contract closed at Rs 923.00/Kg.
  • The June delivery contract traded with a 0.69% increase, closing at Rs 937.40/Kg.
  • The open interest for the May contract stood at 2306 lots on MCX.
  • The June delivery contract had an open interest of 5919 lots on MCX.
  • The restricted arrivals from Chandausi in Uttar Pradesh contributed to tight stocks in the physical market.

Sources:

  • Accord Fintech Pvt. Ltd., distributed by Contify.com

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