Mentha oil down by 0.34% on sluggish demand

Traders pare positions on sluggish demand from consuming industries

Mentha oil prices fell further 0.34 per cent to Rs 672.30 per kg in futures market today after speculators reduced positions, tracking a weak trend at spot market on sluggish demand.

At the Multi Commodity Exchange, mentha oil for delivery in August declined by Rs 2.30, or 0.34 per cent to Rs 672.30 per kg in business turnover of 251 lots.

The September contract shed Rs 1.60, or 0.23 per cent to Rs 685.30 per kg in 546 lots.

Analysts said partial off-loading of positions by speculators, driven by sluggish demand from consuming industries in the spot market, mainly kept pressure on mentha oil prices at futures trade.