Mentha oil down 0.4% on ample stocks

Oil for delivery in March contracts moved down by 0.38%

Mentha oil prices fell by 0.44 per cent to Rs 754.60 per kg in futures trade today as speculators trimmed positions, driven by ample stocks availability in the physical market on higher arrivals from Chandausi in Uttar Pradesh.

Besides, low demand from consuming industries further fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in February month declined by Rs 3.30, or 0.44 per cent to Rs 754.60 per kg in business turnover of 262 lots.

In a similar fashion, the oil for delivery in March contracts moved down by Rs 2.90, or 0.38 per cent to Rs 764.70 per kg in 45 lots.
 
Analysts said offloading of positions by speculators amid ample stocks in the physical market on higher arrivals from Chandausi in Uttar Pradesh, mainly kept pressure on mentha oil prices at futures trade.