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Mentha oil futures drop 1.49% on ample stocks

Press Trust of India  |  New Delhi 

futures fell 1.49 per cent to Rs 1,415.10 per kg today as speculators trimmed positions, driven by subdued demand from consuming industries at the spot market.

Besides, ample stocks position on higher supplies from major producing belts of Chandausi in fuelled the downtrend.

At the Multi Commodity Exchange, for delivery in this month contract declined by Rs 21.40, or 1.49 per cent, to Rs 1,415.10 per kg in a business turnover of 226 lots.

Likewise, the for delivery in March contract traded lower by Rs 18.80, or 1.32 per cent, at Rs 1,406 per kg in 67 lots.

Analysts said, offloading of positions by participants owing to slackened demand from consuming industries at spot market against ample stocks position on increased supplies from Chandausi in led to the decline in 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, February 12 2018. 12:30 IST