Mentha Oil Yesterday, spot prices at the Sambhal and Chandausi regions traded near Rs 980 per kg, which was higher by Rs 8 per kg from the previous spot quotation, whereas at the Barabanki mandis spot prices hovered at Rs 945 per kg, higher at Rs 5 per kg compared to the previous spot prices. According to the trade sources, farmers are still bringing lesser than normal produce to the markets that is leading to restricted arrivals at the physical markets ahead of winter demand. Therefore, this scenario is supporting mentha oil prices to retain its gain. Futures prices started the day on steady note during yesterday’s trading hours; however soon it turned on positive on taking cues of rising spot demand and prices. Therefore, November future Mentha prices closed the day on 2.19 %
At the fundamental viewpoint, winter season demand has picked up backed by a slight upsurge in demand in the pharmaceutical segments, which might support mentha oil prices to trade higher. According to the derivative analysis, prices, volumes and open interest have increased indicating that market is attracting large number of traders, who are willing to open positions from the long side and hold them. Traders are also anticipating that prices will continue to favor mentha oil prices. Therefore, looking at the current scenarios of bulk buying from exporters together with the rise in inquiries from mentha oil consuming sectors we expect mentha oil prices might trade towards upside for the day.
BUY CRUDE OIL MCX NOV ABOVE 6054 SL 6034 TGT 6070-6085
BUY NATURAL GAS MCX NOV ABOVE 229 SL 225 TGT 232
ECONOMIC INDICATORS:
| DATE | TIME | Region | Indicator | Period | Survey | Prior |
| 12.11.2013 | 10:30 | JN | Consumer Confidence Index | Oct | — | 45.4 |
| 12.11.2013 | 12:30 | GE | CPI MoM | Oct F | -0.20% | -0.20% |
| 12.11.2013 | 15:00 | UK | CPI MoM | Oct | 0.40% | 0.40% |
| 12.11.2013 | 15:00 | UK | Retail Price Index | Oct | 253.1 | 251.9 |
| 12.11.2013 | 15:00 | UK | RPI MoM | Oct | 0.50% | 0.40% |
| 12.11.2013 | 17:30 | IN | CPI YoY | Oct | 9.88% | 9.84% |
| 12.11.2013 | 17:30 | IN | Industrial Production YoY | Sep | 3.50% | 0.60% |
| 12.11.2013 | 18:00 | US | NFBI Small Business Optimism | Oct | 93.3 | 93.9 |
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