Mentha oil futures drop 0.45% on ample stocks

Mentha oil futures fell 0.45 per cent to Rs 1,233.90 per kg today as speculators trimmed their positions, driven by sluggish industrial demand at the spot market.
Ample stocks position on higher supplies from Chandausi in Uttar Pradesh too weighed on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery this month contract declined by Rs 5.60, or 0.45 per cent, to Rs 1,233.90 per kg in a business turnover of 446 lots.
Likewise, the oil for delivery in April contract traded lower by Rs 2.70, or 0.22 per cent, to Rs 1,223.50 per kg in 82 lots.

Analysts said offloading of positions by participants owing to slackened demand from consuming industries in spot market against ample stocks position mainly led to the decline in mentha oil prices in futures trade.