 "Mentha oil down 0.3% on increased supply")
Mentha oil prices extended losses for the second straight day by falling 0.36% to Rs 858 per kg in futures trading today as speculators engaged in trimming positions due to weak demand in the spot market.
Further, increased supplies from producing regions also weighed on prices.
At the Multi Commodity Exchange, mentha oil for delivery in September fell further by Rs 3.10, or 0.36% to Rs 858 per kg in business turnover of 386 lots.
Market analysts said the fall in mentha futures was attributed to offloading of positions by speculators, triggered by low demand in the spot market against increased supplies from Chandausi in Uttar Pradesh.
Further, increased supplies from producing regions also weighed on prices.
At the Multi Commodity Exchange, mentha oil for delivery in September fell further by Rs 3.10, or 0.36% to Rs 858 per kg in business turnover of 386 lots.
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In a similar fashion, oil for delivery in October traded lower by Rs 2.90, or 0.33% to Rs 872 per kg in 107 lots.
Market analysts said the fall in mentha futures was attributed to offloading of positions by speculators, triggered by low demand in the spot market against increased supplies from Chandausi in Uttar Pradesh.
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