Mentha oil down 0.29% on falling demand

Traders offload positions on lower offtake from consuming industries

Mentha oil drifted 0.29 per cent to Rs 896.50 per kg in futures market today as traders trimmed positions, driven by easing demand in the spot market against sufficient stocks.

At the Multi Commodity Exchange, mentha oil for delivery in December lost Rs 2.60, or 0.29 per cent to Rs 896.50 per kg in business turnover of 141 lots.

The January contract traded lower by a similar margin to Rs 909 per kg in moderate business volume of 13 lots.

Analysts said offloading of positions by participants due to fall in demand from consuming industries in the spot market against adequate stocks position helped mentha oil prices to trade lower at futures trade.