Muted demand drags down mentha oil futures by 1.12%

Mentha oil prices moved down by 1.12 per cent to Rs 912.50 per kg in futures market today as speculators trimmed their positions, taking negative cues from the spot market on sluggish demand from consuming industries.
Besides, ample stocks position on increased supplies from producing regions put pressure on mentha oil prices.
At Multi Commodity Exchange, mentha oil for delivery in June month fell by Rs 10.30, or 1.12 per cent, to Rs 912.50 per kg in a business turnover of 238 lots.
Likewise, the oil for delivery in July contracts declined by Rs 8.30, or 0.89 per cent, to Rs 926.80 per kg in 76 lots.

Analysts said cutting down of positions by participants owing to slack demand from consuming industries in the spot market against ample stock position on higher supplies from Chandausi in Uttar Pradesh mainly led to the fall in mentha oil prices in futures trade.