Mentha oil weakens by 0.10% on sluggish spot demand

Traders trimmed positions on higher arrivals from producing regions

Mentha oil prices softened by 0.10 per cent to Rs 688.30 per kg in futures trade today as participants trimmed positions, driven by subdued demand from consuming industries in the spot market.

Besides, adequate stocks position in the physical market on increased arrivals from Chandausi in Uttar Pradesh put pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in November edged down by 70 paise, or 0.10 per cent to Rs 688.30 per kg in business turnover of 99 lots.

The December contract shed 60 paise, or 0.09 per cent to Rs 699 per kg in 50 lots.
 
Analysts said offloading of positions by speculators on low demand from consuming industries in the spot market mainly influenced mentha oil prices in futures trade.