Speculators are avoiding fresh long positions in mentha oil futures due to weak demand.

Speculators are avoiding fresh positions in mentha oil in the spot market.

Mentha has formed a ‘bearish’ candle while August futures are consolidating in the Rs 1,290-1,315 range.

Mentha oil September future is still looking weak on the daily chart and it is sustaining below the 20-day moving average on the daily char...

Mentha oil has been under pressure due to muted demand along with ample supply in key spot markets.

Around 11:40 am, MCX Mentha oil was at Rs 1,279 per kg, down by Rs 13.70, or 1.06%.

Around 11:55 am, MCX Mentha oil was at Rs 1,210 per kg, up by Rs 12.30, or 1.03 per cent.

Around 10:45 am, MCX Mentha oil was at Rs 1,224 per kg, up by Rs 1.40.

Mentha oil is now hovering near its previous swing low of Rs 1,220.

Around 11:25 am, MCX Mentha oil was at Rs 1,251.50 per kg, up by Rs 4.70.

Mentha oil is expected to trade in the price range of Rs 1,525 to 1,470 for some time.

Further, tight stocks position on fall in supplies from key producing regions influenced mentha oil prices.

Around 10:50 am, MCX Mentha oil futures were at Rs 1,511 per kg, up by Rs 17.50, or 1.17 per cent.

The MCX Mentha oil was trading at Rs 1,669.50 per kilo.

The commodity has given long term price breakout on weekly chart at around Rs 1,144.

Mentha oil for delivery in September fell by Rs 9.70, or 1.42 per cent, to Rs 671.30 per kg, with a business turnover of Rs 466 lots.

Rising export demand for mentha oil, powder and crystals has led to a 15% rise in mentha prices, a key ingredient in the pharmaceutical, co...