Mentha oil futures down on muted demand, higher supply

Mentha oil prices were down 0.39 per cent to Rs 986.00 per kg in futures trading today as speculators trimmed positions amid subdued demand from consuming industries at the spot market against higher supplies.

At the Multi Commodity Exchange, mentha oil for delivery in October fell Rs 3.90, or 0.39 per cent to Rs 986.00 per kg in a business turnover of 20 lots.

Likewise, the oil for delivery in September weakened by Rs 2.80, or 0.29 per cent to Rs 973.80 per kg in 208 lots.

Analysts attributed the fall in mentha oil prices to weak demand from consuming industries in the physical market against higher supplies from Chandausi in Uttar Pradesh.