MUMBAI (Commodity Online): Mentha Oil futures continued to trade down on the MCX counter due to lower demand in the spot market amid higher supply Thursday.

MCX Mentha Oil July contract moved down Rs 8.20 or 1.2% at Rs 684.70 a kg and fluctuated between Rs 690- 684.70. Volume of contract was 208 lots. August contract traded at Rs 718 a kg, down Rs 4.20 and moved in the range of Rs 719.90- 716.70. Volume of the contract stood at 302 lots.

Now support for the Menthol is seen at 715.5 and below could see a test of 710.6. Resistance is now likely to be seen at 726, a move above could see prices testing 731.6.

Mentha oil August contract dropped Rs 6 and settled at Rs 720.4 a kg as traders booked profits amid fall in demand at spot markets. Increased arrivals in the spot market from the producing belts in Uttar Pradesh also weighed on the prices.

The contract made intraday low of Rs 716.2 a kg and high of Rs 726.7 a kg with the volume of 1870 and total open interest for the same contact was at 3951.

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