Mentha Oil Futures Turn Weak On MCX (14-Feb-2012)
Mentha Oil futures were trading weak on MCX as market men preferring to be on the sidelines, waited for the prices of the commodity to dip in order for initiating fresh buying activities. Elections in UP too reportedly affected the trading prospects of the commodity. However, the medium term fundamentals for the commodity remain moderately firm for the commodity as good pharmaceutical industry winter season demand and further rise in export demand are expected.
The contract for February delivery was trading at Rs 1,543.50, down by 0.07% or Rs 1.10 from its previous closing of Rs 1,544.60. The open interest of the contract stood at 4159 lots.
The contract for March delivery was trading at Rs 1,558.50, down by 0.20% or Rs 3.10 from its previous closing of Rs 1,561.60. The open interest of the contract stood at 1052 lots on MCX.
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