Adequate stocks drag down mentha oil by 0.5%

Oil for delivery in December contracts traded lower by 0.38%

Mentha oil prices were down 0.53% to Rs 926.10 per kg in futures trade today as participants trimmed positions, triggered by ample stocks at spot market against weak demand from consuming industries.

At the Multi Commodity Exchange, mentha oil for delivery in November month fell Rs 3.90, or 0.53%, to Rs 926.10 per kg in business turnover of 702 lots.

Also, the oil for delivery in December contracts traded lower by Rs 3.60, or 0.38% to Rs 938.60 per kg in 81 lots.

Analysts attributed the fall in mentha oil futures to low demand from consuming industries in the spot market against sufficient stocks on higher supplies from Chandausi in Uttar Pradesh.