New Document top_band
 
Business Standard

Mentha sheds 4%, hits lower circuit

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

Read more on:    Mcx | Mentha Oil
Related News

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.

Read more on:   
|

Read More

More cotton exports may be allowed today

The Centre is expected to allow more cotton for exports after a meeting of senior ministers today, sources said.

Quick Links

 

Market News

ITC hits two month high on good Q1 numbers

Analysts at Motilal Oswal reiterate 'buy' rating on the stock with a target price of Rs 400.

Still in a wait-and-watch mode with regards to India: Jim Rogers

Q&A with chairman of Rogers Holdings and author of Street Smarts: Adventures on the Road and in the Markets

Crude palm oil up 0.2% on spot demand

Oil for delivery in July moved up marginally by 0.14%

Lead up 0.3% on spot demand

Metal for delivery in August gained 0.07%

Copper down 0.1% on global cues, weak demand

Metal for delivery in far-month November traded lower by 0.08%

Back to Top