Mentha oil down 0.36% on subdued demand

Adequate stocks influence prices

Mentha oil prices moved down by Rs 5 to Rs 1,384 per kg in futures trade today as speculators offloaded their positions, tracking a weak trend at the spot market on sluggish demand from pharmaceutical units.

Adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh kept pressure on mentha oil futures.

At the Multi Commodity Exchange, mentha oil for delivery in August declined by Rs 5, or 0.36%, to Rs 1,384 per kg, with a business turnover of 499 lots.

The September contract shed Rs 4.60, or 0.33%, to Rs 1,407.90 per kg in 156 lots.

The fall in mentha futures prices was due to sluggish demand from pharmaceutical units against adequate stocks position, marketmen said.