MUMBAI (Commodity Online): Firmness returned for Mentha Oil as November contract expired. Rising export an domestic winter season demand are expected to keep market sentiments firm for the commodity in the near term. Rising demand from the Industry was noted amidst falling arrivals.
Medium term sentiments look positive on expected further rise in winter season demand from the pharmaceutical industries and export demand.
Rise in demand in the mandis on the domestic and the export front from European countries and China continued to support the rates.
Medium term Fundamentals remained moderately firm for the commodity as good pharmaceutical Industry demand and further rise in export demand are expected but short term trend likely to remain volatile.
Some export queries from China and European countries reportedly supporting the market rates. Reports of a fall in production had been keeping the sentiments firm.
Lower arrivals and rising export demand and domestic demand from the Pharmaceutical Industries have been there.
Expected rise in export and domestic demand from pharmaceutical Industries are likely to provide support to prices in the medium term. Exports to China reportedly on the rise.
Source : commodityonline.com