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Muted Demand Drags Down Mentha Oil Futures by 0.22%

Mentha oil futures were trading lower during the morning trade in the domestic market on Tuesday as participants remained on the sidelines in the agri-commodity amid a fall in physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, trimming of positions by traders in the spot market due to a slide in demand for mentha oil from consuming industries at the spot market against sufficient stocks position on higher supplies from producing regions, influenced mentha oil prices to trade lower at futures trade.

 

At the MCX, mentha oil futures for September 2016 contract were trading at Rs 869 per kg, down by 0.22 per cent after opening at Rs 869, against the previous closing price of Rs 870.90. It touched the intra-day low of Rs 866.70.

 

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