Mentha oil futures drop 3% on sluggish demand

Mentha oil futures drop 3% on sluggish demand

22/11/2016 17:10

Mentha oil futures plunged by 3 per cent during evening trade in the domestic market on Tuesday as investors and speculators cut down their bets in the agri-commodity amid fall in physical demand for mentha oil from major consuming industries at the domestic spot market.

Further, trimming of positions by participants in the domestic spot market on downtick in demand for mentha oil from consuming industries at the domestic spot market against sufficient 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 921.80 per kg, down by 3 per cent after opening at Rs 952.40, against the previous closing price of Rs 950.30. It touched the intra-day low of Rs 921.80 (at 17:10 hours).

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