Mentha oil falls in futures trade on weak spot demand

NEW DELHI: Mentha oil prices slipped in domestic futures trade on Wednesday on muted demand by consuming industriesNSE 0.97 %.

Around 11:10 am, MCX Mentha oil was at Rs 1,642 per kg, down by Rs 10.50, or 0.64 per cent.

Speculators trimmed positions in mentha futures, triggered by muted demand from consuming industries at the spot market and adequate stocks on higher supplies from the major producing region.

As per the brokerage GeojitNSE 1.83 % Financial ServicesNSE -0.09 %, corrective dips to Rs 1,625- 1,600 ranges is likely as long as the upside of Rs 1,680 is capped.

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