 "Mentha oil falls by 0.5% on low demand")
Mentha oil prices were down 0.55% to Rs 728.10 per kg in futures trade today as speculators indulged in reducing positions, taking negative cues from spot market.
Besides, adequate stock positions in the physical market following higher arrivals from Chandausi in Uttar Pradesh further fuelled the downtrend.
At the Multi Commodity Exchange market, mentha oil for delivery in January month moved down by Rs 4, or 0.55% to Rs 728.10 per kg in business turnover of 242 lots.
Analysts said offloading of positions by speculators, triggered by sluggish demand from consuming industries in the spot markets mainly kept mentha oil prices lower at futures trade.
Besides, adequate stock positions in the physical market following higher arrivals from Chandausi in Uttar Pradesh further fuelled the downtrend.
At the Multi Commodity Exchange market, mentha oil for delivery in January month moved down by Rs 4, or 0.55% to Rs 728.10 per kg in business turnover of 242 lots.
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Similarly, the oil for delivery in February contracts traded lower by Rs 2.80, or 0.38% to Rs 939.50 per kg in 239 lots.
Analysts said offloading of positions by speculators, triggered by sluggish demand from consuming industries in the spot markets mainly kept mentha oil prices lower at futures trade.
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