Mentha oil futures decline 0.68% on reduced offtake

Mentha oil prices declined by 0.68% to Rs 1,125 per kg in futures trade today as speculators reduced their positions, driven by a weak trend at the spot market on subdued demand.

At the Multi Commodity Exchange, mentha oil for September delivery declined by Rs 7.70, or 0.68%, to Rs 1,125 per kg, with a business turnover of 242 lots. 

Similarly, the oil for August delivery shed Rs 6, or 0.53%, to Rs 1,121 per kg, with an open interest of 752 lots. 

Market analysts said a subdued trend at the spot markets on subdued demand from consuming industries led to a fall in mentha oil prices at futures trade here.