AHMEDABAD (Commodity Online): Mentha oil Prices at MCX, December contract saw some selling sentiments in today's trading session.
It opened at 1322.30 per k.g and after making an intraday high at 1323.20 it started trading downside and made an intraday low at 1286.30 and still expected to trade downside.
The adequate stocks position following increased arrivals from Chandausi, in Uttar Pradesh, weighed on Mentha oil prices in futures trade.
Rise in demand in the mandis on the domestic and the export front from European countries and China likey to limit the downside.
Medium term Fundamentals remained moderately firm for the commodity as good pharmaceutical Industry winter season demand and further rise in export demand are expected but short term trend likely to remain volatile.
Mentha oil prices trading at MCX, December contract is having supportat 1260 level.
''Traders should look for the opportunity to buy at lower levels. ", said Milan Shah, Commodity Analyst with Commodity Online.
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