Mentha oil futures dip on sluggish spot demand

Mentha oil futures plunged by Rs 30.90 to Rs 1,163.20 per kg today as traders reduced their holdings, driven by a weak demand in the spot market.

Adequate stock availability following increased arrivals from producing regions also put pressure on prices.

At the Multi Commodity Exchange, mentha oil for November contract delivery plunged by Rs 30.90, or 2.59 per cent, to Rs 1,163.20 per kg in a single lot.

In a similar fashion, December delivery mentha oil futures tumbled by Rs 30, or 2.40 per cent, to Rs 1,180.50 per kg with a business turnover of five lots.