Mentha Oil dropped 0.97 per cent on weaker demand

Posted By: Religare
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{image-04-mentha-(oil)commodity.jpg}Yesterday, Mentha oil futures prices declined in the domestic market as speculators reduced their long positions at existing price level, driven by weak demand from the pharmaceutical units. Mentha oil for June future decreased by Rs. 9.3, or 0.97 per cent, to Rs. 947.10 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), mentha oil future for June contract closed at Rs. 953.80 per kg, down by 0.27 per cent, after opening at Rs. 956.00 against the previous closing price of Rs. 956.40. It touched the intra-day low of 947.10 per kg with a business volume of 199 lots.

Read more about: mentha, mcx, pharma
Story first published: Wednesday, May 4, 2011, 12:30 [IST]
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