Subdued physical demand bites mentha oil futures
07/07/2017
Mentha oil futures were trading lower during morning trade in the domestic market on Friday 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, influenced mentha oil prices at futures trade.At the MCX, mentha oil futures for July 2017 contract is trading at Rs 930.50 per kg, down by 0.28 per cent, after opening at Rs 926.30, against the previous closing price of Rs 933.10. It touched the intra-day low of Rs 926 (at 11:07 hours).
07/07/2017
Mentha oil futures were trading lower during morning trade in the domestic market on Friday 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, influenced mentha oil prices at futures trade.At the MCX, mentha oil futures for July 2017 contract is trading at Rs 930.50 per kg, down by 0.28 per cent, after opening at Rs 926.30, against the previous closing price of Rs 933.10. It touched the intra-day low of Rs 926 (at 11:07 hours).
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