Muted demand drags down mentha oil futures by 0.66%

Mentha oil prices declined by 0.66 per cent to Rs 1,210 per kg in futures market today as speculators trimmed their positions, taking negative cues from spot market on subdued demand from consuming industries.
At the Multi Commodity Exchange, mentha oil for delivery in October fell by Rs 8, or 0.66 per cent to Rs 1,210 per kg in business turnover of 35 lots.
Likewise, the oil for delivery in September contracts traded lower by Rs 7.70, or 0.64 per cent to Rs 1,195.50 per kg in business turnover of 335 lots.
Analysts said offloading of position by participants owing to slackened demand from consuming industries in the physical market against adequate stocks position on increased supplies from producing belts, mainly led to decline in mentha oil prices at futures trade.