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Mentha oil futures maintain downtrend on sluggish demand

Press Trust of India  |  New Delhi 

Extending a falling streak for the fourth straight day, mentha prices fell further by 0.62 per cent to Rs 917.10 per kg in futures trading today as speculators engaged in reducing positions, driven by easing demand in the spot market.

Besides, adequate stocks position on increased arrivals from producing belts put pressure on mentha prices.

At the Multi Commodity Exchange, mentha for delivery in June declined by Rs 5.70, or 0.62 per cent, to Rs 917.10 per kg in a business turnover of 67 lots.

Likewise, the for delivery in May shed Rs 4, or 0.42 per cent, to Rs 957.40 per kg in 127 lots.

Marketmen said, trimming of positions by traders in line with subdued demand from consuming industries in the spot market against ample stocks on increased supplies from Chandausi in Uttar Pradesh, mainly kept mentha prices lower at futures trade.

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

First Published: Fri, May 19 2017. 11:48 IST