NEW DELHI, Feb 16:Mentha oil futures fell 0.98 per cent to Rs 1,333 per kg today as speculators trimmed positions, driven by subdued demand from consuming industries in the spot market.
Besides, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in this month’s contracts declined Rs 13.20, or 0.98 per cent, to Rs 1,333 per kg in a business turnover of 264 lots.
Likewise, the oil for delivery in March contracts traded lower by Rs 12.50, or 0.92 per cent, at Rs 1,340.90 per kg in 147 lots.
Analysts said, offloading of positions by participants owing to slackened demand from consuming industries at spot market against ample stocks position on increased supplies from Chandausi in Uttar Pradesh led to the decline in mentha oil futures. (PTI)
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