Mentha oil down 1.4% on sluggish demand

Mentha oil for delivery in the June contract declined by 1.35%

Mentha oil prices fell by 1.48% to Rs 1,046.60 per kg in futures market today as speculators reduced their holdings on sluggish demand from consuming industries in the spot market.

Besides, adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh.

At the Multi Commodity Exchange, mentha oil for delivery in July fell by Rs 15.70, or 1.48%, to Rs 1,046.60 per kg in business turnover of 250 lots.

Similarly,mentha oil for delivery in the June contract declined by Rs 14.20, or 1.35%, to Rs 1,034 per kg in 687 lots.

Market analysts said speculators reduced their holdings on the back of sluggish demand from consuming industries in the spot market against adequate supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.