Mentha oil down 0.1% on higher supply

Oil for delivery in August contract edged lower by 0.07%

Mentha oil traded marginally lower at Rs 713 per kg in futures trading today as speculators reduced positions, triggered by higher supplies in the spot market from producing regions.

Besides, weak demand from consuming industries further fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in September declined by 70 paise, or 0.10%, to Rs 713 per kg in business turnover of 35 lots.

Similarly, the oil for delivery in August contract edged lower by 50 paise, or 0.07% to Rs 700.90 per kg in 238 lots.

Analysts attributed fall in mentha oil prices at futures trade to trimming of positions by speculators, driven by subdued demand from consuming industries in the spot market.