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Mentha oil futures down by 1.09% on low demand

Press Trust of India  |  New Delhi 

Continuing its losing streak for the second day, mentha prices drifted lower by 1.09 per cent to Rs 1,012.80 per kg in futures market today as speculators engaged in cutting down their bets, taking negative cues from spot markets.

At the Multi Commodity Exchange, mentha for delivery in March month fell by Rs 11.20, or 1.09 per cent to Rs 1,012.80 per kg in business turnover of 338 lots.

On similar lines, the for delivery in April contracts moved down by Rs 9.50, or 0.92 per cent to Rs 1,021.90 per kg in 49 lots.

Analysts said offloading of positions by participants owing to slackened demand from consuming industries in spot market against ample stocks position on increased supplies from Chandausi in mainly kept mentha oil prices down at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 15 2017. 11:57 IST