Mentha oil futures decline 0.32 pc on sluggish demand

Mentha oil prices drifted lower by 0.32 per cent to Rs 939.10 per kg in futures trade today as speculators cut down their bets owing to easing demand from consuming industries at the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in August fell by Rs 3, or 0.32 per cent, to Rs 939.10 per kg in a business turnover of 116 lots.

Similarly, the oil for delivery in August traded lower by Rs 3.10, or 0.32 per cent, to Rs 951.50 per kg in 15 lots.

Analysts said, offloading of positions by participants on the back of subdued demand from consuming industries in the physical market against ample stocks position on increased supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade.