Mentha oil down 0.5% on low demand

Continuing its losing streak for the third straight day, mentha oil prices were down by 0.45% to Rs 952.30 per kg in futures market today, tracking a weak trend at spot market on sluggish demand from consuming industries.

In futures trading at the Multi Commodity Exchange, mentha oil for delivery in November declined by Rs 4.30, or 0.45%, to Rs 952.30 per kg in a business turnover of 290 lots.

On similar lines, the oil for delivery in December traded lower by a similar margin to Rs 964.50 per kg in 27 lots.

Analysts said a weak trend at spot market on subdued demand from consuming industries against adequate stocks position on higher supplies from Chandausi in Uttar Pradesh, mainly kept mentha oil prices lower at futures trade.