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Muted demand drags mentha oil futures by 2.13 pc

Press Trust of India  |  New Delhi 

prices drifted lower by 2.13 per cent to Rs 1,202 per kg in futures trade today 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 influenced prices.

At the Multi Commodity Exchange, for delivery this month traded lower by Rs 26.20, or 2.13 per cent, to Rs 1,202 per kg, in a business turnover of 748 lots.

Similarly, the oil for delivery in April declined by Rs 23.40, or 1.93 per cent, to Rs 1,190 per kg in 124 lots.

Analysts said offloading 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: Tue, March 13 2018. 13:15 IST