Lower demand, higher supplies drag down Mentha Oil future

Lower demand, higher supplies drag down Mentha Oil future

Mentha oil prices fell by 0.01 per cent on Friday at the Multi Commodity Exchange (MCX) as a result of the increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh. Sentiment weakened further as the investors indulged in profit-booking in the midst of a fall in demand in the spot market. At MCX, Mentha oil futures for May 2014 contract, at MCX, were trading at Rs. 846.20 per kg, down by 0.01 per cent after opening at Rs. 843 against the previous closing price of Rs. 846.30. It touched the intra-day low of Rs. 832.10 till the trading. (At 2.04 PM today).
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