INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Mentha oil futures were little changed on Thursday morning, but showed a positive tilt.
MCX Mentha futures gained by Rs 6.90, or
0.42 per cent, at Rs 1,659.50 at around 11.16 am.
"Mentha oil futures (August) are likely to take support near Rs 1,628-1,615 levels and
trade with an upside bias due to lower supply and lesser leftover stocks," said SMC Global Securities in daily commodity report
"Even if one considers unaccounted stocks with small traders and growers, the overall carryover stocks may not be more than 1,000 tonnes
Besides, farmers are also holding back produce, expecting more gains ahead
Also, there could be chances of crop damage due to a certain extent due to unfavourable weather conditions," the brokerage said
Extracted from the herb Mentha arvensis through distillation, mentha oil is mostly used in food and flavourings
Besides, natural menthol has cooling and soothing effect on the skin and mucous membrane of the human body, making it a useful ingredient
in pharmaceuticals and the cosmetics industry.
