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Muted demand drags down mentha oil futures 0.08 pc

Press Trust of India  |  New Delhi 

Mentha prices drifted lower by 0.08 per cent to Rs 1,733.10 per kg in futures trade Thursday as speculators trimmed positions, driven by sluggish demand from industries at the spot market.

Besides, ample stocks position on higher supplies from producing regions, too, weighed on mentha prices.

At the Multi Commodity Exchange, mentha for delivery this month traded lower by Rs 1.40, or 0.08 per cent, to Rs 1,733.10 per kg, in a business turnover of 74 lots.

Analysts said off-loading of positions by participants due to subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in mainly led to the decline in mentha in futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 11 2018. 12:05 IST