Mentha oil down 0.5% on low demand

Oil for delivery in October traded lower by 0.41%

Mentha oil prices moved down by 0.48% to Rs 669.30 per kg in futures trading today as speculators trimmed positions amid low demand from consuming industries in the spot market.

Besides, higher arrivals from Chandausi in Uttar Pradesh put pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in September fell by Rs 3.20, or 0.48%, to Rs 669.30 per kg in a business turnover of 279 lots.

Similarly, the oil for delivery in October traded lower by Rs 2.80, or 0.41%, to Rs 680 per kg in 130 lots.

Analysts attributed the fall in mentha oil futures to subdued demand from consuming industries in the spot market against adequate stocks position on higher arrivals from producing belts.