Mentha oil down 0.3% on higher supply

Oil for delivery in April shed 0.18%

Mentha oil prices declined by 0.37% to Rs 835.30 per kg in futures trading today as speculators trimmed positions amid higher supply from producing regions against subdued demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in May declined by Rs 3.10, or 0.37%, to Rs 835.30 per kg in a business turnover of 236 lots.

Similarly, the oil for delivery in April shed Rs 1.50, or 0.18%, to Rs 824.60 per kg in 134 lots.

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