Indian Commodity News about Mentha Oil (11th May '11)
Mentha Oil futures were trading mixed. However, the commodity for the near term future slipped into red on the reports of better crop prospects this year. Possibilities of higher production this year are preventing a major uptrend in rates. However, expected rise in export and domestic demand from pharmaceutical industries are likely to provide support to prices in the medium term.
The contract for May delivery was trading at Rs 916.50, down by 0.74% or Rs 6.80 from its previous closing of Rs 923.30. The open interest of the contract stood at 574 lots.
The contract for June delivery was trading at Rs 885.40, gained 0.05 or Rs 0.40% from its previous closing of Rs 885.00. The open interest of the contract stood at 1199 lots.
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