Sluggish Demand Drags Down Mentha Oil Futures By 1.14%

Mentha oil futures were trading lower during the morning trade in the domestic market on Monday as participants trimmed their bets in the agri-commodity amid downtick 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 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 November 2016 contract is trading at Rs 965 per kg, down by 1.14 per cent after opening at Rs 963, against the previous closing price of Rs 976.10. It touched the intra-day low of Rs 948.

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