Mentha oil futures slide on sluggish demand

Mentha oil futures slide on sluggish demand

02/11/2016 16:55

Mentha oil futures were trading lower during the evening trade in the domestic market on Wednesday as investors and speculators trimmed their positions in the agri-commodity amid fall in physical demand for mentha oil from major consuming industries at the domestic spot market.

Further, exiting of positions by participants in the domestic spot market due to an easing of demand for mentha oil from consuming industries at the domestic spot market against ample stocks position on higher supplies from producing regions, influenced mentha oil prices at futures trade.

At the MCX, mentha oil futures for November 2016 contract is trading at Rs 945 per kg, down by 0.71 per cent after opening at Rs 956, against the previous closing price of Rs 951.80. It touched the intra-day low of Rs 942.80 (at 16:51 hours).

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