Mentha oil falls 1% on subdued demand

Adequate stocks also affect prices

Mentha oil futures fell 1% to Rs 701.20 per kg today as speculators reduced positions, triggered by subdued demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in July eased by Rs 7.10, or 1%, to Rs 701.20 per kg in a business turnover of 427 lots.

Likewise, the oil for delivery in the August traded lower by Rs 6.40, or 0.88%, to Rs 717.40 per kg in 120 lots.

Market analysts said speculators reduced their positions, triggered by sluggish industrial demand in the spot market, which led to the fall in mentha oil prices at futures market.
 

Besides, adequate stocks position following increased arrivals from Chandouisi in Uttar Pradesh also influenced the oil prices.