Low demand drags down mentha oil futures by 0.70%
Mentha oil prices slipped by 0.70 per cent to Rs 1,194 per kg in futures trade today as speculators trimmed their positions, taking negative cues from spot market on easing demand from industries.
Besides, ample stock positions on higher supplies from producing regions too weighed on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in September fell by Rs 8.40, or 0.70 per cent, to Rs 1,194 per kg, in a business turnover of 311 lots.
Similarly, the oil for delivery in August shed Rs 4.70, or 0.40 per cent, to Rs 1,182 per kg in 667 lots.
Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the spot market against ample stock positions on higher supplies from Chandausi in Uttar Pradesh mainly led to the slide in mentha oil prices in futures trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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