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Mentha oil futures dip on muted demand

Mentha oil futures were trading lower during the evening trade in the domestic market on Friday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market. Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions. At the MCX, mentha oil futures for January 2018 contract was trading at Rs 1659 per kg, down by 0.66 per cent, after opening at Rs 1648.60, against the previous closing price of Rs 1670.10. It touched the intra-day low of Rs 1628(at 16:11 hours).

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