Mentha oil down 0.3% on weak demand, higher supply

Adequate stocks following increased arrivals from producing regions put pressure on mentha oil

Amid weak spot demand, mentha oil prices fell by 0.39% to Rs 850.10 per kg in futures trading today, as speculators reduced positions.

Besides, adequate stocks following increased arrivals from producing regions also put pressure on mentha oil.

At the Multi Commodity Exchange, mentha oil for delivery in October fell by Rs 3.30, or 0.39%, to Rs 850.10 per kg in business turnover of 250 lots.

Similarly, oil for delivery in November traded lower by Rs 3.40, or 0.39%, to Rs 863 per kg in 78 lots.

Analysts said the fall in mentha prices at futures market was mostly due to offloading of positions by speculators, triggered by weak demand from consuming industries in the spot market.