Mentha oil futures prices plunge 2.52% on low demand, high supply
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Mentha oil prices plunged 2.52 per cent to Rs 1350.40 per kg in futures trading today as speculators trimmed their positions, tracking a weak trend at spot market on weak demand against higher supplies from producing belts.
At the Multi Commodity Exchange, mentha oil for delivery in December plunged Rs 34.90, or 2.52 per cent to Rs 1350.40 per kg in business turnover of 4,156 lots.
Similarly, the oil for delivery in January lost Rs 32.90, or 2.35 per cent to Rs 1369 per kg in 1788 lots.
Marketmen attributed the fall in mentha oil futures to weak demand from consuming industries in the spot market against high supplies from Chandousi in Uttar Pradesh and profit-booking by speculators.