Mentha oil falls by 0.6% on sluggish demand

Sluggish demand from consuming industries in the spot market against higher supplies affected prices

Mentha oil remained weak for the second day with prices falling by another 0.63% to Rs 846 per kg in futures trade today owing to slackened demand from consuming industries in the spot market.

 

At the Multi Commodity Exchange, mentha oil for delivery in August month declined by Rs 5.40, or 0.63% to Rs 846 per kg in business turnover of 474 lots.

 

Similarly, the oil for delivery in September contract shed Rs 4.10, or 0.47% to Rs 860.20 per kg in 82 lots.

 

Market analysts said sluggish demand from consuming industries in the spot market against higher supplies from Chandausi in Uttar Pradesh mainly kept pressure on mentha oil prices at futures trade.