Mentha oil down 1.4% on higher supply

Oil for delivery in October traded lower by 1.21%

Mentha oil prices moved down by 1.36% to Rs 659.10 per kg in futures trade today as speculators indulged in reducing positions, triggered by higher supplies at spot market.

Further, low demand from consuming industries put pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in September fell by Rs 9.10, or 1.36% to Rs 659.10 per kg in business turnover of 165 lots.

Similarly, the oil for delivery in October traded lower by Rs 8.20, or 1.21% to Rs 669 per kg in 499 lots.

Marketmen attributed the fall in mentha oil futures to higher supplies from producing belts amid subdued demand from consuming industries.