Muted demand drags down mentha oil futures 0.87% : 11/10/2018
Muted demand drags down mentha oil futures 0.87%
11/10/2018 12:57
Mentha oil futures were trading lower during the noon trade in the domestic market on Thursday as speculators trimmed positions, driven by sluggish demand from industries at the spot market.
Besides, ample stocks position on higher supplies from producing regions, too, weighed on mentha oil prices.
Analysts said off-loading of positions by participants due to subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade.
At the MCX mentha oil futures for October 2018 contract was trading at Rs 1719.60 per kg down by 0.87 per cent after opening at Rs 1734.80 against the previous closing price of Rs 1734.80 . It touched the intra-day low of Rs 1714.1 (at 13:00 hours).
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Muted demand drags down mentha oil futures 0.87%
11/10/2018 12:57
Mentha oil futures were trading lower during the noon trade in the domestic market on Thursday as speculators trimmed positions, driven by sluggish demand from industries at the spot market.
Besides, ample stocks position on higher supplies from producing regions, too, weighed on mentha oil prices.
Analysts said off-loading of positions by participants due to subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade.
At the MCX mentha oil futures for October 2018 contract was trading at Rs 1719.60 per kg down by 0.87 per cent after opening at Rs 1734.80 against the previous closing price of Rs 1734.80 . It touched the intra-day low of Rs 1714.1 (at 13:00 hours).
