Mentha oil futures dip on subdued demand
Mentha oil futures were trading lower during the morning trade in the domestic market on Tuesday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market. Further exiting of bets 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.
At the MCX mentha oil futures for May 2018 contract was trading at Rs 1295 per kg down by 1.51 per cent after opening at Rs 1305.90 against the previous closing price of Rs 1314.90. It touched the intra-day low of Rs 1287.