Muted demand drags down mentha oil futures by 0.35%

Amid sluggish domestic demand and sufficient stocks on higher supplies from producing belts, mentha oil drifted by 0.35 per cent to Rs 921.50 per kg in futures trade today.

At the Multi Commodity Exchange, mentha oil for delivery in December declined by Rs 3.20, or 0.35 per cent to Rs 921.50 per kg in a business turnover of 119 lots.

On similar lines, the oil for delivery in January shed Rs 3.20, or 0.34 per cent to Rs 934.20 per kg in 16 lots.

Analysts said besides sluggish demand from consuming industries in the physical market, adequate stocks on higher supplies from Chandausi in Uttar Pradesh, mainly kept mentha oil prices lower at the futures trade.