Mentha oil down 0.24% on sluggish demand

Mentha oil prices fell by Rs 3.50 to Rs 1,353.50 per kg in futures trade today as speculators reduced positions amid a weak spot market trend on sluggish demand.

Increased arrivals in the spot markets from producing belts fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in September fell by Rs 3.50, or 0.24%, to Rs 1,353.50 per kg, with a business turnover of 16 lots.

The August contract shed Rs 2.40, or 0.18%, to Rs 1,331.50 per kg in 107 lots.

Marketmen said speculators reduced their positions on the back of sluggish demand from pharmaceutical units in the spot market, which influenced mentha oil prices at futures trade.