NEW DELHI: Mentha oil suffered losses in futures trade on Monday after a fall in demand by consuming industries at spot markets.
Speculators trimmed positions in mentha oil futures due to a fall in demand from consuming industries at the spot market against adequate supplies from key producing regions.
Around 11:30 am, MCX Mentha oil was at Rs 1,236 per kg, down by Rs 12.60, or 1.01 per cent.
Mentha oil (July) is now hovering near its previous swing low of Rs 1,220.
"Mentha (July) made a new 52 week low amid weak technicals and fundamentals. The levels around Rs 1,210-1,220 can provide short-term bounce as the indicators are showing oversold levels," said Mustafa Nadeem, CEO, Read More – Source