Mentha oil slides 1.46% on subdued demand

Higher supplies from major producing belts in Uttar Pradesh put further pressure on prices

Mentha oil prices were down 1.46 per cent to Rs 892.90 per kg in futures trading today as traders reduced positions owing to slackened demand from consuming industries in the spot market.

Besides, adequate stocks position on higher supplies from major producing belts in Uttar Pradesh put pressure on mentha oil prices.

At Multi Commodity Exchange, mentha oil for delivery in October fell Rs 13.30, or 1.46 per cent, to Rs 892.90 per kg in a business turnover of 542 lots.

In a similar fashion, the oil for delivery in November contracts traded lower by Rs 12.10, or 1.31 per cent, to Rs 907 per kg in 44 lots.

Analysts attributed the fall in mentha oil futures to easing demand from consuming industries in the physical market against sufficient stocks on higher supplies from Chandausi in Uttar Pradesh.