Sluggish physical Demand Drags Down Mentha Oil

Mentha Oil futures were trading lower during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the agri commodity amidst weak physical demand for Mentha Oil from the major consuming industries in the domestic spot market.

More than adequate supplies in the market amidst higher supplies from Chandausi in Uttar Pradesh also exerted downward pressure on Mentha Oil prices in the domestic market.
 

At the MCX, Mentha Oil futures, for the January 2016 contract, is trading at Rs 890.6 per kg, down by 0.29 per cent, after opening at Rs 893, against a previous close of Rs 893.2. It touched an intra-day low of Rs 889.5 .