Mentha Oil Futures On Wednesday - July 30 , 2008

NEW DELHI: Mentha oil futures on Wednesday rose 2.28 per cent in early trade on Wednesday on the domestic futures market on the back of fresh buying by traders after hitting the lower circuit on Tuesday.

Traders said emergence of buying on supply concerns helped mentha oil to recover part of Tuesday's losses.

All four running contracts - July, August, September and October - were back in positive territory with a gain of 2.28 per cent on the Multi Commodity Exchange.

Mentha for delivery in August contract rose the most with a gain of 2.28 per cent at Rs 709.40 per kg after rising to Rs 710 at 1030 hrs.

While, near-month July contract was trading 2.10 per cent higher at Rs 694 per kg after moving between Rs 698.80 and Rs 685 per kg at the outset.

Far-month September and October contracts were up by 1.95 and 1.99 per cent at Rs 717 and Rs 728 per kg respectively.

Mentha Oil Hits Upper Circuit June 18, 2008

Mumbai: Mentha oil futures continued its bull run to hit the upper circuit of four per cent on MCX on Tuesday. It closed higher at Rs 510 a kg on concerns of crops damage in Uttar Pradesh due to the recent rains.

Cardamom gained 1.88 per cent to Rs 706 a kg on strong demand in the spot markets. Jeera and soyabean futures which opened strong on NCDEX hit the upper circuit, but fell sharply to end the day in the red. Soyabean touched the day’s high of Rs 2,748 crore fell down to close at Rs 2,649 a quintal, down 0.45 per cent over previous day’s close.

Guarseed gains

Reports of crop damage in the US due to incessant rain have pushed soyabean futures in the Chicago Board of Trade. Solvent Extractors’ Association has released encouraging data on soya meal export data.

Guarseed was up 1.94 per cent at Rs 1,789 a quintal on short covering.

Barley fell 1.2 per cent to Rs 1,363 a quintal on profit booking after the recent sharp rally in prices. RM seed was down 0.41 per cent to Rs 657 per 20 kg following long liquidation.

MCX recorded a turnover of Rs 6,910 crore up to 5 pm, while it was Rs 2,184 crore on NCDEX.