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Muted demand drags down mentha oil futures by 1.12%

Press Trust of India  |  New Delhi 

Mentha prices moved down by 1.12 per cent to Rs 912.50 per kg in futures market today as speculators trimmed their positions, taking negative cues from the spot market on sluggish demand from consuming industries.

Besides, ample stocks position on increased supplies from producing regions put pressure on mentha prices.

At Multi Commodity Exchange, mentha for delivery in June month fell by Rs 10.30, or 1.12 per cent, to Rs 912.50 per kg in a business turnover of 238 lots.

Likewise, the oil for delivery in July contracts declined by Rs 8.30, or 0.89 per cent, to Rs 926.80 per kg in 76 lots.

Analysts said cutting down of positions by participants owing to slack demand from consuming industries in the spot market against ample stock position on higher supplies from Chandausi in mainly led to the fall in mentha oil prices in futures trade.

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

First Published: Mon, June 19 2017. 11:42 IST