Mentha Oil dropped 4 per cent on profits booking

Posted By: Religare
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{image-03-mentha-(oil)commodity.jpg}Yesterday, mentha oil futures declined in the domestic market due to profits booking by the speculators at existing price level, driven by weak demand from pharmaceutical units. Mentha oil for July future dropped as much as 4 per cent to Rs. 926.40 per kg on the Multi Commodity Exchange (MCX). Moreover, increased fresh arrivals in the physical market from the major producing regions, mainly from Chandausi in Uttar Pradesh, also kept the futures prices in negative zone.

At Multi Commodity Exchange (MCX), menthe oil future for July contract closed at Rs. 938.40 per kg, down by 2.75 per cent, after opening at Rs. 941.10 against the previous closing price of Rs. 965.00. It touched the intra-day low of 926.40 with a business volume of 629 lots.

Read more about: mcx, mentha, oil
Story first published: Tuesday, May 3, 2011, 12:30 [IST]
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