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Mentha oil futures edge lower on weak demand

30 May 2014 Evaluate

Mentha oil futures declined on MCX as speculators indulged in reducing positions amidst weak demand in the spot market. Further, ample stocks position following higher supplies from Chandousi in Uttar Pradesh too added pressure on mentha oil prices.

The contract for May delivery was trading at Rs 805.90, down by 0.35% or Rs 2.80 from its previous closing of Rs 808.70. The open interest of the contract stood at 367 lots.

The contract for June delivery was trading at Rs 816.40, down by 0.16% or Rs 1.30 from its previous closing of Rs 817.70. The open interest of the contract stood at 3545 lots on MCX.