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Mentha oil futures were little changed during morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the agri-commodity amid downtick in physical demand for mentha oil from major consuming industries in the domestic spot market.

 At the MCX, mentha oil futures for January 2017 contract is trading at Rs 1051.40 per kg, down by 0.06 %, after opening at Rs 1052.60, against the previous closing price of Rs 1052. It touched the intra-day low of Rs 1050.

                                    Trading Ideas

1. Menthaoil trading range for the day is 1033.9-1080.5.
2. Mentha oil spot at Sambhal closed at 1139.70 per 1kg. Spot prices is down by Rs.-12.00/-.
3. Mentha oil prices dropped on profit booking amid downtick in demand in the domestic spot market.
4. Further, ample stocks position on higher supplies from producing regions of Chandausi in Uttar Pradesh, too influenced mentha oil prices.
5. Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates of around 40,000 tonnes.