Mentha oil down by 0.9% on sluggish demand

Speculators trimming positions on the back of sluggish demand affected mentha oil prices

Mentha oil prices fell by 0.88% to Rs 946.80 per kg in futures trade today as speculators trimmed their positions amid sluggish demand in the spot market against increased supplies from producing region.

 

At the Multi Commodity Exchange, mentha oil for delivery in September declined by Rs 8.40, or 0.88% to Rs 946.80 per kg in business turnover of 997 lots.

 

Similarly, the oil for delivery in October traded lower by Rs 7.70, or 0.79% to Rs 962.10 per kg in 123 lots.

 

Market analysts attributed the fall in mentha oil futures to speculators trimming positions on the back of sluggish demand in the spot market against increased supplies from producing region mainly influenced mentha oil prices at futures trade.