Mentha Oil Futures Drop 3.80% On Diminishing Demand

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

Further, cut down of positions by traders in the spot market was due to decline 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 were trading at Rs 937.20 per kg, down by 3.80 per cent after opening at Rs 969.10, against the previous closing price of Rs 974.20. It touched the intra-day low of Rs 936.

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