Mentha oil down 0.3% on low demand

Analysts said reducing of positions by participants due to lower demand influenced mentha oil prices

Mentha oil prices declined by 0.32% to Rs 830.60 per kg in futures trading today as participants trimmed positions triggered by lower demand from consuming industries in the spot market against higher supply.

At the Multi Commodity Exchange, mentha oil for delivery in April declined by Rs 2.70, or 0.32% to Rs 830.60 per kg in business turnover of 71 lots.

Oil for delivery in May fell by a similar margin to Rs 843 per kg in 78 lots.

Analysts said reducing of positions by participants due to lower demand from consuming industries in the spot market against higher supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.