Mentha oil futures fall 1.31% on easing spot demand

Mentha oil prices fell by 1.31 per cent to Rs 980 per kg in futures trade today as speculators trimmed positions, taking weak cues from spot market.

Besides, adequate stocks in the physical market on higher supplies from producing belts put pressure on mentha oil prices.

At Multi Commodity Exchange, mentha oil for delivery in August fell Rs 13, or 1.31 per cent to Rs 980 per kg in business turnover of 304 lots.

Similarly, the oil for delivery in July traded lower by Rs 12.40, or 1.27 per cent to Rs 962.80 per kg in 300 lots.

Analysts said offloading of positions by speculators tracking weak trend at spot markets on low demand from consuming industries, mainly pulled down mentha oil prices at futures trade.