Mentha oil futures down on reduced offtake

Mentha oil prices moved down by Rs 4.40, or 0.58 per cent, to Rs 754.60 per kg in futures market today on reduced offtake followed by fall in demand at spot markets.

Lack of enquiries from pharmaceutical units also influenced the trading sentiment.

At the Multi Commodity Exchange counter, mentha oil for August-month moved down by Rs 4.40, or 0.58 per cent, to Rs 754.60 per kg, with an open interest of 4,344 lots.

Similarly, the oil for delivery in September-month also fell by Rs 3.60, or 0.47 per cent, to Rs 766.60 per kg, with an open interest of 4,861 lots.

Market analysts said fall in demand in the spot market, against adequate stocks positions amid reduced offtake by pharmaceutical units mainly pulled down mentha oil prices at futures trade.