Mentha to remain weak

COMMODITY SPIKES

An expected bumper mentha crop this season has started showing its impact on the futures trade. According to market sources this would stoke bearish sentiments. "From now onwards, we expect no soaring rates. The last jump came last week and the market will remain numb for now," said a commodity analyst.

The contract for May delivery, which until a week ago was showing a bullish trend, dipped on Saturday. During the week, it fell by over 3 per cent to Rs 581 a kg from Rs 599 on the Ncdex.

Similarly, the April contract dipped 1.5 per cent to Rs 613 a kg from Rs 622. Commodity analysts said as the crop arrival season nears, further decline in the Mentha prices cannot be ruled out.