Mentha oil down 0.3% on sluggish demand

Oil for delivery in February contract shed 0.29%

Amid sluggish demand from consuming industries in the spot market and adequate supplies from producing regions, mentha oil prices lower by 0.31% to Rs 792.70 per kg in futures trade today.

At the Multi Commodity Exchange, mentha oil for delivery in March declined by Rs 2.50, or 0.31% to Rs 792.20 per kg in business turnover of 274 lots.

Likewise, the oil for delivery in February contract shed Rs 2.30, or 0.29% to Rs 782 per kg in 143 lots.

Analysts attributed fall in mentha oil futures to sluggish demand from consuming industries in the spot market against adequate supplies from Chandausi in Uttar Pradesh.