Mentha oil futures hit lower circuits, down 4%

Mentha oil prices hit lower limit of 4 per cent to trade at Rs 1,647.70 per kg in futures trade today as speculators reduced exposure amid fall in demand from consuming industries in the domestic spot market.

Besides, ample stocks on higher supplies from major producing regions of Chandausi in Uttar Pradesh weighed.

At Multi Commodity Exchange, mentha oil for delivery in November plunged by Rs 68.60, or 4 per cent to Rs 1,647.70 per kg in business turnover of 1,105 lots.

Likewise, the oil for delivery in December traded lower by Rs 69,20, or 4 per cent to Rs 1,662.60 per kg in 706 lots.

Analysts said cutting down of positions by participants due to easing demand from consuming industries in the physical market against sufficient stock position on increased supplies from Chandausi mainly pulled down mentha oil prices at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)