Mentha oil futures suffer losses on slump in spot demand
Participants said the overall trend remains negative amid the expectation of higher production in key areas of UP.
NEW DELHI: Mentha oil suffered sharp losses in futures trade on Tuesday due to a slump in demand by consuming industries at the spot market.
Speculators cut positions in mentha futures, triggered by a fall in demand from consuming industries at the spot market and adequate stocks on higher supplies from the major producing regions.
Participants said the overall trend remains negative amid the expectation of higher production in key areas of UP; which contribute largely to overall production of Mentha.
Around 12:45 pm, MCX Mentha oil was trading at Rs 1,384.50 per kg, down by Rs 27.40, or 1.94 per cent.
Speculators cut positions in mentha futures, triggered by a fall in demand from consuming industries at the spot market and adequate stocks on higher supplies from the major producing regions.
Participants said the overall trend remains negative amid the expectation of higher production in key areas of UP; which contribute largely to overall production of Mentha.
Around 12:45 pm, MCX Mentha oil was trading at Rs 1,384.50 per kg, down by Rs 27.40, or 1.94 per cent.
