Weak physical demand bites Mentha oil
03/08/2016 14:00
Mentha oil futures plunged by more than 1 per cent during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the agri-commodity amid sluggish physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major Mentha Oil producing regions also exerted downward pressure on domestic prices.
At the MCX, Mentha oil futures for August 2016 contract were trading at Rs 928 per kg, down by 1.03 per cent after opening at Rs 927.80, against the previous closing price of Rs 937.70. It touched the intra-day low of Rs 925.3 (at 13:59 PM).
03/08/2016 14:00
Mentha oil futures plunged by more than 1 per cent during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the agri-commodity amid sluggish physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major Mentha Oil producing regions also exerted downward pressure on domestic prices.
At the MCX, Mentha oil futures for August 2016 contract were trading at Rs 928 per kg, down by 1.03 per cent after opening at Rs 927.80, against the previous closing price of Rs 937.70. It touched the intra-day low of Rs 925.3 (at 13:59 PM).
