Mentha oil marginally falls on subdued spot cues

Mentha oil remained weak and prices fell by another 0.03% to Rs 903.70 per kg in futures trading today as participants engaged in reducing their positions, taking negative cues from spot market on sluggish demand.

At the Multi Commodity Exchange, mentha oil for delivery in November month shed 30 paise, or 0.03% to Rs 903.70 per kg in business turnover of 99 lots.

Likewise, the oil for delivery in December contracts down by 20 paise, or 0.02% to Rs 919 per kg in 271 lots.

Analysts attributed the fall in mentha oil futures to subdued demand from consuming industries from consuming industries in the physical market against adequate stocks on higher supplies from Chandausi in Uttar Pradesh.