Mentha oil futures remain weak on adequate stocks

Mentha oil prices fell 0.76 per cent to Rs 903 per kg in futures market today as participants engaged in reducing positions amid sluggish demand at the spot market.
In addition ample stocks on higher supplies from producing regions put pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery September lost Rs 6.90, or 0.76 per cent to Rs 903 per kg in a business turnover of 538 lots.
Similarly, the oil for delivery in October contracts moved down Rs 6.70, or 0.73 per cent to Rs 916 per kg in 82 lots.
Market analysts said besides subdued demand from consuming industries in the physical market, adequate stocks position on higher supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade.