MUMBAI (Commodity Online): Mentha oil futures pared its previous gains slightly at the MCX counter on profit taking at higher level on Thursday. Mentha oil futures had closed higher on technical buying support in the last session.

MCX mentha oil March contract traded at Rs 613.60 a kg, down Rs 1.70. The contract had opened the day lower at Rs 614.20 a kg. The contract so far fluctuated between of Rs 614.80- 612.50 a kg.

April contract tad down Rs 2.40 at Rs 610 a kg. The contract traded in the range Rs 610- 609.30 a kg. Volumes in the March and April contracts so far have been 69 and 13 lots respectively.

Mentha oil closed session on a higher note on buying interest at the lower level by traders. Firm spot markets also garnered support.

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On March 9th, total stock of mentha oil at MCX-monitored warehouses at Chandausi was 826,666 kg of which 792,847 kg is physical stock and 33,819 is the demat stock. March contract dropped Rs 7.1 and settled at Rs 615.7 a kg.

The contract made intraday low of Rs 607.2 a kg and high of Rs 617.8 a kg with the volume of 2628 and total open interest for the same contact was at 3326.Now support for the Menthol is seen at 609.3 and below could see a test of 603. Resistance is now likely to be seen at 619.9, a move above could see prices testing 624.2.

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