Mentha oil down 0.87% on higher supply

Subdued demand influences prices

Mentha oil futures prices today moved down by Rs 10.20 to Rs 1,165.50 per kg due to higher supplies following increased arrivals from producing regions against lower demand from pharmaceutical units.

At the Multi Commodity Exchange, mentha oil for delivery in October declined by Rs 10.20, or 0.87%, to Rs 1,165.50 per kg in a business turnover of 601 lots.

The October contract traded lower by Rs 10.10, or 0.85%, to Rs 1,181.20 per kg in 132 lots.

Market experts said sufficient stocks positions due to higher supplies in the physical market against subdued demand from pharmaceutical units influenced mentha oil prices at futures market.