Mentha oil futures down on supply pressure

Mentha oil prices fell Rs 5.40 to Rs 921.60 per kg in futures trade today after participants reduced positions amid persistent supplies in the spot market against weak industrial demand.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in September was trading lower by Rs 5.40, or 0.58 per cent, to Rs 921.60 per kg, with a business turnover of Rs 560 lots.
Similarly, the oil for delivery in October declined by Rs 5, or 0.53 per cent, to Rs 934.30 per kg in 92 lots.
Marketmen attributed the fall in mentha oil futures to supply pressure amid higher output estimates against low demand from consuming industries in the spot market.