Mentha oil dips 0.81 pc on muted demand

Mentha oil futures fell 0.81 per cent to Rs 1,256.40 per kg today as speculators trimmed positions, driven by subdued demand from consuming industries at the spot markets.

Further, ample stocks position on higher supplies from Chandausi in Uttar Pradesh, too, influenced prices.

At the Multi Commodity Exchange, mentha oil for delivery in the current month declined by Rs 10.20, or 0.81 per cent, to Rs 1,256.40 per kg in a business turnover of 153 lots.

Likewise, the oil for delivery in June traded lower by Rs 4, or 0.35 per cent, to trade at Rs 1,139 per kg in 132 lots.

Analysts said, off-loading of positions by participants owing to slackened demand from consuming industries at spot market against ample stocks position on increased supplies from Chandausi in Uttar Pradesh led to the decline in mentha oil prices in futures trade.