Mentha futures extend losses, down 0.25% on tepid demand

Continuing its falling streak for the fifth straight day, mentha oil prices fell further by 0.25 per cent to Rs 933.50 per kg in futures trading today as speculators engaged in reducing their positions, taking negative cues from spot market on easing demand.

Besides, adequate stocks position on increased arrivals from producing regions weighed on prices.

At the Multi Commodity Exchange, mentha oil for delivery in May declined by Rs 2.30, or 0.25 per cent to Rs 933.50 per kg in business turnover of 60 lots.

On similar lines, the oil for delivery in April contracts shed Rs 1.70, or 0.18 per cent to Rs 924.20 per kg in 9 lots.

Analysts said offloading of positions by traders on the back of muted demand from consuming industries in the spot market against ample stocks position on increased arrivals from producing belts, mainly kept mentha oil prices lower at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)