Religare Retail Research has come out with its report on agricultural commodities.Mentha Oil prices are likely to find some strong support However, do-mestic demand from pharmaceutical Industries in Indian markets may support the falling rates in coming days.Exports expected to pick up in Jan 2nd week as Interna-tional markets open.
Moderate firm trend persisted for Mentha Oil as it traded with high volatility. Prices found some strong support at the lower levels as closure of International markets for Christmas and New Year adversely affected the export demand that had picked up recently. However, do-mestic demand from pharmaceutical Industries in Indian markets may support the falling rates in coming days. High stocks are keeping uptrend limited. Exports expected to pick up in Jan 2nd week as Interna-tional markets open.
Reports of current prices being on the lower side along with expected pick up in export and winter season domestic demand in coming weeks could ensure prices find some strong support here.
Higher production and higher stock levels have been keeping senti-ments weak for sometime. Domestic pharmaceutical Industries demand are likely to rise in coming weeks.
Banning of Gutka in some states continues having negative impact on Mentha Oil demand. Production this year expected higher at more than 60000 tonnes vs ~50000 tonnes last year
Latest reports from Spice Board indicate that for the period April-December last year, exports for Mint value-added products like Oil, Menthol and its crystals rose 94% in volumes at 17,850 tonnes and 39% in value at Rs 2202 Cr w.r.t. same period the previous year.
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