Mentha oil down 0.2% on low demand

Oil for delivery in May shed 0.24%

Mentha oil prices declined by 0.28% to Rs 851.80 per kg in futures market today as speculators trimmed positions amid increased supplies from producing regions against lower demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in June declined by Rs 2.40, or 0.28%, to Rs 851.80 per kg in business turnover of 3 lots.

Likewise, the oil for delivery in May shed Rs 2, or 0.24%, to Rs 844 per kg in 57 lots.

Analysts said speculators trimmed positions, triggered by higher supplies from Chandausi in Uttar Pradesh against lower demand from consuming industries, mainly led to decline in mentha oil prices at futures trade.