 "Mentha oil down 1.9% on weak demand, higher supply")
Mentha oil prices moved down by 1.98% to Rs 932.20 per kg in futures trading today as speculators reduced their positions, tracking a weak trend at spot market on sluggish demand amid higher supplies from Chandausi in Uttar Pradesh.
At the Multi Commodity Exchange, mentha oil for delivery in July fell by Rs 18.80, or 1.98%, to Rs 932.20 per kg in business turnover of 688 lots.
In a similar fashion, the oil for delivery in August lost Rs 19, or 1.97%, at Rs 946.20 per kg in 104 lots.
They said higher supplies following increased arrivals from Chandausi in Uttar Pradesh also put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in July fell by Rs 18.80, or 1.98%, to Rs 932.20 per kg in business turnover of 688 lots.
In a similar fashion, the oil for delivery in August lost Rs 19, or 1.97%, at Rs 946.20 per kg in 104 lots.
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Market analysts said speculators reduced their positions on the back of sluggish demand from consuming industries in the spot market mainly led to the fall in mentha oil futures prices.
They said higher supplies following increased arrivals from Chandausi in Uttar Pradesh also put pressure on mentha oil.