Mentha oil down 1% on sluggish demand

Oil for delivery in July lost 0.9%

Mentha oil prices fell by 1.14% to Rs 739.30 per kg in futures trading today as speculators reduced positions amidst sluggish demand from consuming industries in the spot market.

Further, increased supplies from producing regions also put pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in June eased by Rs 8.50, or 1.14%, to Rs 739.30 per kg in a business turnover of 126 lots.

Similarly, the oil for delivery in July lost Rs 6.90, or 0.90%, to Rs 759.90 per kg in 715 lots.

Analysts attributed the fall in mentha oil futures to offloading of positions by speculators amidst subdued demand from consuming industries in the spot market.