Mentha oil futures remain weak, shed 0.39% on muted demand

Mentha oil prices drifted further lower by 0.39 per cent to Rs 1,235.40 per kg in futures market today as speculators engaged in reducing their exposure amid fall in demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in October declined by Rs 4.80, or 0.39 per cent to Rs 1,235.40 per kg in business turnover.

Likewise, the oil for delivery in September contracts moved down by Rs 4, or 0.33 per cent to Rs 1,223.40 per kg in 41 lots.

Analysts said trimming of positions by participants due to tepid demand from consuming industries in the spot market against ample stock positions on higher supplies from Chandausi in Uttar Pradesh mainly kept mentha oil prices down at futures trade.