Mentha oil down 0.1% on subdued demand

Mentha oil prices softened by 0.09% to Rs 897 per kg in futures trade today as traders trimmed their positions, tracking a weak trend at spot market on sluggish demand from consuming industries.

Besides, adequate stocks position on increased supplies from producing regions weighed on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in September month declined by 80 paise or 0.09% to Rs 897 per kg in business turnover of 44 lots.

On similar lines, the oil for delivery in August contracts weakened by 60 paise or 0.07% to Rs 885.50 per kg in 69 lots.
 

Analysts said offloading of positions by participants due to muted demand from consuming industries in spot market against sufficient stocks position on higher supplies from Chandausi in Uttar Pradesh, led to decline in mentha oil prices at futures trade.