Mentha oil on MCX settled down by -1.42% at 931.1 amid subdued demand from major consuming industries at the domestic spot market. Further, sufficient stocks position on higher supplies from producing regions, too added pressure on mentha oil prices. Fire and smoke have engulfed the premises belonging to German company BASF, the world’s largest chemicals manufacturer, in the town of Lampertheim, local media report. The cause of the fire was not immediately clear. BASF, which employs more than 122,000 workers all around the globe, said it has informed local authorities about the incident.

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                          Trading Ideas

1. Menthaoil trading range for the day is 915.5-954.1.

2. Mentha oil spot at Sambhal closed at 1058.40 per 1kg. Spot prices is down by Rs.-6.60/-.

3. Mentha oil dropped amid subdued demand from major consuming industries at the domestic spot market.

4. Further, sufficient stocks position on higher supplies from producing regions, too added pressure on mentha oil prices.

5. Exports of mint products stood at 21,150 tonne in FY16 valued at RS. 2,577.59 crore against 25,750 tonne valued at RS. 2,689.25 crore in FY15.