Mentha oil falls by 0.3%, on weak demand

Increased supply amid a weak demand affected the prices

Mentha oil prices fell further by 0.32% to Rs 864.20 per kg in futures trade today continuing its losing streak for the third day, owing to weak demand against adequate supplies from producing regions.

 

At the Multi Commodity Exchange, mentha oil for delivery in September fell further by Rs 2.80 or 0.32% to Rs 864.20 per kg in business turnover of 268 lots.

 

Likewise, the oil for delivery in October shed Rs 2.40, or 0.27% to Rs 878 per kg in 108 lots.

 

Market analysts said besides weak demand from consuming industries in the spot market, increased supplies from Chandausi in Uttar Pradesh mainly kept pressure on mentha oil prices at futures trade for third day.