Mentha oil futures drop 2.49% on subdued demand

Mentha oil futures drop 2.49% on subdued demand

27/06/2017 17:44

Mentha oil futures fell over 2 per cent during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the agri-commodity amid subdued physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, cut down of bets by traders in the spot market was due to a fall in physical 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 June 2017 contract is trading at Rs 886 per kg, down by 2.49 per cent, after opening at Rs 904, against a previous close of Rs 908.60. It touched the intra-day low of Rs 883.90 (at 17:46 hours).

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