MCX MENTHA OIL PRICES DOWN 0.5%

• Mentha oil prices fell 0.45% to Rs 761.90 per kg in futures trade today.
• MCX Mentha oil for delivery in January eased by Rs 3.50, or 0.45%, to Rs 761.90 per kg, with a business volume of 370 lots.
• Similarly, mentha oil prices for the February delivery eased by Rs 3.50, or 0.45%, to Rs 772.50 per kg, with a business turnover of 80 lots.
• Technically market is under short covering as market has witnessed drop in open interest by -0.64% to settled at 9904 while prices up 8.4 rupee, now Menthaoil is getting support at 756.8 and below same could see a test of 748.2 level, and resistance is now likely to be seen at 771.4, a move above could see prices testing 777.4.
• Mentha oil settled up by 1.11% at 765.4 on the back of strong demand from consuming industries in spot markets against lower arrivals from Chandausi in Uttar Pradesh.