Sluggish Demand Drags Down Mentha Oil Futures By 0.54%

Mentha oil futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the agri-commodity amid downtick in physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, trimming of positions by traders in the spot market was due to slide 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 926.40 per kg, down by 0.54 per cent after opening at Rs 917, against the previous closing price of Rs 931.40. It touched the intra-day low of Rs 917.

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