MCX Mentha Oil -Mentha Oil drops for the second day on demand concerns
MCX Mentha oil continued to decline for the second consecutive day on Today as demand declined in the spot market. Moreover, the traders shredded their positions and booked profits at higher levels. According to analysts, continued supply form the producing areas and limited demand lead to fall in the prices of the commodity. At the MCX, Mentha Oil future for the May contract traded at Rs 958.50, down by 0.38 per cent after opening at Rs. 945.60 against the previous close of Rs. 962.20.
MCX CPO- Crude palm oil rose more than 0.40% on declining production
MCX Crude palm oil Futures rose for the third straight day in the domestic market on expectations of slump in production for a fifth month in Malaysia, the world’s second-largest producer. According to the data available from Malaysian Palm Oil Board, stocks declined 11 percent to 1.93 million tons in the month of April and have dropped 27 percent from a record in December. At the MCX, Crude Palm Oil future for May 2013 contract traded at Rs. 473.80 per 10 kg, up by 0.45 per cent after opening at Rs. 472.00 against the previous close of Rs. 471.70.
MCX Mentha oil continued to decline for the second consecutive day on Today as demand declined in the spot market. Moreover, the traders shredded their positions and booked profits at higher levels. According to analysts, continued supply form the producing areas and limited demand lead to fall in the prices of the commodity. At the MCX, Mentha Oil future for the May contract traded at Rs 958.50, down by 0.38 per cent after opening at Rs. 945.60 against the previous close of Rs. 962.20.
MCX CPO- Crude palm oil rose more than 0.40% on declining production
MCX Crude palm oil Futures rose for the third straight day in the domestic market on expectations of slump in production for a fifth month in Malaysia, the world’s second-largest producer. According to the data available from Malaysian Palm Oil Board, stocks declined 11 percent to 1.93 million tons in the month of April and have dropped 27 percent from a record in December. At the MCX, Crude Palm Oil future for May 2013 contract traded at Rs. 473.80 per 10 kg, up by 0.45 per cent after opening at Rs. 472.00 against the previous close of Rs. 471.70.
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