Low demand drags down mentha oil futures by 1.15%

Mentha oil prices drifted lower by 1.15 per cent to Rs 1,189 per kg in futures market today as speculators trimmed their positions, taking negative cues from spot market on tepid demand from industries.
At the Multi Commodity Exchange, mentha oil for delivery in September fell by Rs 13.80, or 1.15 per cent, to Rs 1,189 per kg, in a business turnover of 292 lots.
Likewise, the oil for delivery in October declined by Rs 12, or 0.99 per cent, to Rs 1,205 per kg in 67 lots.
Analysts said offloading of position by participants owing to slackened demand from consuming industries in the physical market mainly weighed on mentha oil prices at futures trade.