Mentha oil hits lower circuit, plunges 4 pc on tepid demand

Mentha oil prices plunged by 4 per cent to hit a lower circuit at Rs 958.10 per kg in futures trading today as participants offloaded their exposure amid weak demand at the physical market.

At the Multi Commodity Exchange, mentha oil for delivery in current month plunged by Rs 39.90, or 4 per cent, to hit lower circuit at Rs 958.10 per kg, in a business turnover of 441 lots.

Mentha to be delivered in June too fell by Rs 5.30, or 0.57 per cent, to Rs 922.70 per kg in 369 lots.

Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the spot market against ample stocks position on increased arrivals from Chandausi in Uttar Pradesh mainly led to a steep fall in mentha oil prices in futures trade.

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