Mentha oil extend losses, down 0.65% on weak demand
Increased supply from UP also put pressure on prices
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Mentha oil prices extended losses for the second straight day by losing 0.65% to Rs 768.30 per kg in futures trading today on weak demand from consuming industries in the spot market.
Besides, increased supply from producing regions also put pressure.
At the Multi Commodity Exchange, mentha oil for delivery in February fell by Rs 5, or 0.65%., to Rs 768.30 per kg in business turnover of 139 lots.
Similarly, the oil for delivery in March lost Rs 4.70, or 0.60%, to Rs 778.50 per kg in 232 lots.
Analysts said besides weak demand from consuming industries in the spot market, supply pressure from Chandausi in Uttar Pradesh mainly kept pressure on mentha oil at futures trade.
Besides, increased supply from producing regions also put pressure.
At the Multi Commodity Exchange, mentha oil for delivery in February fell by Rs 5, or 0.65%., to Rs 768.30 per kg in business turnover of 139 lots.
Similarly, the oil for delivery in March lost Rs 4.70, or 0.60%, to Rs 778.50 per kg in 232 lots.
Analysts said besides weak demand from consuming industries in the spot market, supply pressure from Chandausi in Uttar Pradesh mainly kept pressure on mentha oil at futures trade.
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First Published: Feb 25 2014 | 12:06 PM IST