 "Mentha oil down 0.7% on sluggish demand")
Mentha oil prices fell by 0.70% to Rs 815.50 per kg in futures market today as traders reduced their positions, tracking a weak trend at spot market on sluggish industrial demand.
Besides, adequate stocks position in the physical market following higher arrivals from Chandousi in Uttar Pradesh also put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in January fell by Rs 5.80, or 0.70%, to Rs 815.50 per kg in a business turnover of 80 lots.
Market analysts said traders reduced their positions, triggered by sluggish industrial demand in the spot market, which led to fall in mentha oil prices at futures market.
They said adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh also influenced oil prices.
Besides, adequate stocks position in the physical market following higher arrivals from Chandousi in Uttar Pradesh also put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in January fell by Rs 5.80, or 0.70%, to Rs 815.50 per kg in a business turnover of 80 lots.
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Similarly, oil for delivery in February declined by 0.80 paise, or 0.09%, to Rs 832.40 per kg in 261 lots.
Market analysts said traders reduced their positions, triggered by sluggish industrial demand in the spot market, which led to fall in mentha oil prices at futures market.
They said adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh also influenced oil prices.
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