Subdued physical demand bites mentha oil 21/03/2017

Subdued physical demand bites mentha oil
21/03/2017 17:52

Mentha oil futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators cut down their positions in the agri-commodity amid diminishing 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 March 2017 contract is trading at Rs 987.30 per kg, down by 0.70 per cent, after opening at Rs 994.90, against the previous closing price of Rs 994.30. It touched the intra-day low of Rs 987.30 (at 17:53 hours).