Subdued demand drags down mentha oil futures by 0.70%
02/05/2017
Mentha oil futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators exited their positions in the agri-commodity amid sluggish 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 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 May 2017 contract is trading at Rs 946.60 per kg, down by 0.70 per cent, after opening at Rs 948.50, against the previous closing price of Rs 953.30. It touched the intra-day low of Rs 944 (at 10:13 hours).
02/05/2017
Mentha oil futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators exited their positions in the agri-commodity amid sluggish 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 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 May 2017 contract is trading at Rs 946.60 per kg, down by 0.70 per cent, after opening at Rs 948.50, against the previous closing price of Rs 953.30. It touched the intra-day low of Rs 944 (at 10:13 hours).
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