Mentha oil futures decline by 0.42% on subdued demand

Mentha oil prices were down by 0.42 per cent to Rs 859 per kg in futures trading today as traders trimmed their positions amid low demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in May fell by 3.60, or 0.42 per cent to Rs 859 per kg in business turnover of 22 lots.

Likewise, the oil for delivery in far-month June contracts traded lower by Rs 3.10, or 0.36 per cent to Rs 856 per kg in 46 lots.

Analysts said lightening of positions by participants due to tepid demand from consuming industries in the spot market against adequate stocks on higher supplies from Chandausi in Uttar Pradesh mainly led to the fall in mentha oil prices at futures trade.