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Muted demand drags mentha oil futures 0.80 pc

Press Trust of India  |  New Delhi 

Mentha prices drifted lower by 0.80 per cent to Rs 1,152 per kg in futures trade today as speculators trimmed positions, driven by sluggish demand from industries at the spot market.

Besides, ample stocks position on higher supplies from producing regions too influenced mentha prices.

At the Multi Commodity Exchange, mentha for delivery this month traded lower by Rs 9.40, or 0.80 per cent, to Rs 1,152 per kg, in a business turnover of 638 lots.

On similar lines, the for delivery in September declined by Rs 7.50, or 0.64 per cent, to Rs 1,166.50 per kg in 99 lots.

Analysts said offloading of positions by participants due to subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in mainly led to the decline in mentha prices in futures trade.

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

First Published: Tue, August 08 2017. 11:42 IST