Mentha Oil Rate Today – What Traders Should Know
Mentha Oil Rate Today – What Traders Should Know
Blog Article
The mentha oil rate today has shown moderate movement, keeping traders on edge as they await clearer signals. As of market opening, the MCX Mentha oil contract is trading at around ₹965 per kg, registering a marginal uptick of 0.45% over yesterday’s closing price.
Why the Movement?
Mentha oil is a highly seasonal commodity. The latest price movement is influenced by:
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Weather patterns in Uttar Pradesh and Bihar – key growing regions.
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Anticipation of export demand from the pharmaceutical and FMCG sectors.
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Reduced arrivals in spot markets, causing slight supply pressure.
Trading Insight:
Traders using a margin trading facility may find short-term opportunities in the current range-bound movement. However, caution is advised due to low liquidity and sudden spikes in volatility.
Technical Levels to Watch:
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Support: ₹940
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Resistance: ₹980
Bonus Tip:
Monitor the crude oil option chain. Rising crude oil prices could increase transportation costs, indirectly affecting Mentha oil pricing.
Conclusion:
Today’s trend suggests mild bullishness, but intraday traders must tread carefully. Use tight stop-losses and keep an eye on spot market cues.