| Date: |
31-07-2010 |
| Subject: |
Mentha Oil Recovers On Strong Export Demand |
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Bargain buying seen in mentha oil futures on the heels of strong export demand coupled with weak crop projections of the current year. The future prices of mentha oil have gained almost Rs 8 per kg from their lows.
As per latest release by Spice Board of India, Mint exports in June surged by 32 percent to 2,500 tonnes and up 28 percent in terms of the export earnings to Rs 16,684.00 lakh.
Moreover, the total crop size of the mentha oil is likely to be around 25000-27000 tonnes in the current year against 32000 tonnes reported last year.
Therefore, the future prices of MCX August Benchmark contract increased by Rs 8 per kg in last two days and were trading at Rs 724 per kg
Source : indiainfoline.com
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