Mentha oil down 0.3% on low demand, higher supply

Oil for delivery in August contract traded lower by 0.23%

Mentha oil prices fell 0.26% to Rs 717 per kg in futures trading today as speculators reduced positions on the back of lower demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in September fell further by Rs 1.90, or 0.26% to Rs 717 per kg in business turnover of 26 lots.

Similarly, the oil for delivery in August contract traded lower by Rs 1.60, or 0.23% to Rs 704.50 per kg in 256 lots.

Analysts attributed fall in mentha oil prices at futures trade to reducing of positions by speculators, driven by lower demand from consuming industries in the spot market.