Mentha sheds 4%, hits lower circuit

Low demand from user industries sees oil fall for 7th straight session

futures prices fell by another 4% to hit lower circuit, extending its slide for the seventh straight session today, as speculators engaged in reducing their positions following supply pressure amid reports of a higher sowing.

At the Multi Commodity Exchange, mentha oil for delivery in May plunged Rs 71.70, or 4%, to hit lower circuit at Rs 1,719.60 per kg in a business volume of 117 lots.

The April contract declined by Rs 70.50, or 4%, to Rs 1,693 per kg, in a turnover of 125 lots.

Market analysts said the persistent fall in mentha prices in futures trade was due to continued off-loading of positions by speculators following reports of higher sowing in Western UP and other regions.

In addition, poor demand from consuming industries particularly, pharma, dampened the sentiment, they said.

image
Business Standard
177 22
Business Standard

Mentha sheds 4%, hits lower circuit

Low demand from user industries sees oil fall for 7th straight session

Press Trust of India  |  New Delhi 

futures prices fell by another 4% to hit lower circuit, extending its slide for the seventh straight session today, as speculators engaged in reducing their positions following supply pressure amid reports of a higher sowing.

At the Multi Commodity Exchange, mentha oil for delivery in May plunged Rs 71.70, or 4%, to hit lower circuit at Rs 1,719.60 per kg in a business volume of 117 lots.

The April contract declined by Rs 70.50, or 4%, to Rs 1,693 per kg, in a turnover of 125 lots.

Market analysts said the persistent fall in mentha prices in futures trade was due to continued off-loading of positions by speculators following reports of higher sowing in Western UP and other regions.

In addition, poor demand from consuming industries particularly, pharma, dampened the sentiment, they said.

RECOMMENDED FOR YOU

Mentha sheds 4%, hits lower circuit

Low demand from user industries sees oil fall for 7th straight session

Mentha oil futures prices fell by another 4% to hit lower circuit, extending its slide for the seventh straight session today, as speculators engaged in reducing their positions following supply pressure amid reports of a higher sowing.

futures prices fell by another 4% to hit lower circuit, extending its slide for the seventh straight session today, as speculators engaged in reducing their positions following supply pressure amid reports of a higher sowing.

At the Multi Commodity Exchange, mentha oil for delivery in May plunged Rs 71.70, or 4%, to hit lower circuit at Rs 1,719.60 per kg in a business volume of 117 lots.

The April contract declined by Rs 70.50, or 4%, to Rs 1,693 per kg, in a turnover of 125 lots.

Market analysts said the persistent fall in mentha prices in futures trade was due to continued off-loading of positions by speculators following reports of higher sowing in Western UP and other regions.

In addition, poor demand from consuming industries particularly, pharma, dampened the sentiment, they said.

image
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
H P C L 930.90 9.81
Finolex Cables 334.05 9.43
B P C L 1010.85 9.12
Prestige Estates 184.75 8.84
Lycos Internet 18.95 7.67
> More on BSE Gainers
Company Price() Chg(%)
Finolex Cables 337.00 10.20
H P C L 931.65 9.65
B P C L 1012.00 9.19
Prestige Estates 184.20 8.29
Reliance Power 52.25 7.40
> More on NSE Gainers
Company Price() Chg(%)
Novartis India 724.80 -12.45
Vaibhav Global 267.80 -6.15
Fortis Health. 164.05 -5.56
R C F 43.05 -5.49
Essel Propack 184.25 -4.41
> More on BSE Gainers
Company Price() Chg(%)
R C F 43.05 -5.38
Fortis Health. 164.00 -5.28
VRL Logistics 276.80 -4.83
Vaibhav Global 267.70 -4.77
Ruchi Soya Inds. 22.20 -4.72
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard