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Muted demand drags down mentha oil futures by 1.31 pc

Press Trust of India  |  New Delhi 

Mentha prices fell by 1.31 per cent to Rs 1,636 per kg in futures trade today as speculators trimmed positions, triggered by muted demand from consuming industries at the spot market.

Adequate stocks on higher supplies from major producing regions of Chandausi in put pressure on prices.

At the Multi Commodity Exchange, mentha for delivery this month declined by Rs 21.80, or 1.31 per cent, to Rs 1,636 per kg, in a business turnover of 373 lots.

On similar lines, the for delivery in December traded lower by Rs 20.70, or 1.24 per cent, to Rs 1,670.70 per kg in 280 lots.

Analysts said that besides imposition of total special margin of 20 per cent on long (buy) side, offloading of positions by participants due to muted demand at the domestic spot market kept mentha oil prices depressed.

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

First Published: Wed, November 15 2017. 12:48 IST