Mentha oil futures decline 0.91 pc on low demand

Mentha oil prices drifted lower by 0.91 per cent to Rs 1,124 per kg in futures trade today as speculators trimmed positions, driven by sluggish demand from industries at the spot market.

Besides, ample stock positions on higher supplies from producing regions too influenced mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery this month traded lower by Rs 10.40, or 0.91 per cent, to Rs 1,124 per kg, in a business turnover of 533 lots.

On similar lines, the oil for delivery in September contract declined by Rs 9.10, or 0.79 per cent, to Rs 1,137.90 per kg in 113 lots.
 

Analysts said offloading of positions by participants due to subdued demand from consuming industries in the spot market against ample stock positions on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade.