MUMBAI (Commodity Online): Moderately firm trend continued for Mentha Oil in the spot market as the Futures market showed some corrections at the higher levels from profit booking. Better demand along with low arrivals continued to support the prices. Traders expect overall trend to remain bullish in the short term with intermittent profit booking.

Expected fall in production is likely to keep sentiments up for Mentha in the medium term. Traders are also reportedly holding back stocks in anticipation of a rise in price in the coming weeks.

Traders hold a bullish overview in the medium term on expected further pickup in domestic and export demand at lower levels.

The trading activities are expected to rise in coming weeks with domestic demand expected to increase at lower levels..

Falling export demand from US and EU have been pressurizing prices and exporters have reportedly been waiting for dips before initiating fresh query.

Expectations of lower production and rising export demand from China are expected to provide support to the prices.

Courtesy: Religare Commodities

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