Tepid demand drags down mentha oil futures by 0.65%

Mentha oil prices declined by 0.65 per cent to Rs 892.40 per kg in futures trading today as speculators trimmed their positions, driven by low demand from consuming industries at the spot market.
Furthermore, adequate stocks position on higher supplies from producing regions weighed on prices.
At the Multi Commodity Exchange, mentha oil for delivery in September month moved down by Rs 5.80, or 0.65 per cent to Rs 892.40 per kg in business turnover of 116 lots.
Similarly, the oil for delivery in October contracts shed Rs 5.20, or 0.57 per cent to Rs 902.40 per kg in 11 lots.

Marketmen said offloading of positions by participants owing to sluggish demand from consuming industries in spot market against adequate stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices at futures trade.