The Hindu Business Line : Mentha oil prices may fall

Chennai June 10 Mentha oil prices could decline in the near term as arrivals could put pressure on the market. An outlook for the commodities market this week says the current warm climate in menthe growing region could prove beneficial to the growth of the plant. As a result, mentha crop could be of better quality and production could also be higher.

The outlook by Angel Broking said another reason for the downtrend could be that exporters had procured menthe oil at all levels in the spot market but export enquiries had been scarce.

Mentha prices were range-bound last week with spot prices at Sambhal moving between Rs 525 and Rs 510 a kg.

GUARSEED

The progress of monsoon will hold key in the guarseed market as the crop is sensitive to rains. The market was likely to trade in ranges with a negative bias in view of reports of favourable weather conditions from the India Meteorological Department.

The reports have already imparted bearishness in the market and the prices are trading in the Rs 1,777-1,857 a quintal range for July contract. Spot prices are quoted between Rs 1.730 and Rs 1,760.

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