Mentha oil down 0.23% on increased arrivals

Mentha oil remained weak for the second day and prices fell 0.23 per cent to Rs 689.30 per kg in futures trade today as speculators trimmed positions amid increased arrivals from producing belts in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in November fell by Rs 1.60, or 0.23 per cent, to Rs 689.30 per kg in a business turnover of 214 lots.
Similarly, the oil for delivery in December traded lower by Rs 1.30, or 0.19 per cent, to Rs 700.90 per kg in 106 lots.
Analysts said offloading of positions by speculators amid increased arrivals from Chandausi in Uttar Pradesh against low demand from consuming industries in the spot market kept pressure on mentha oil prices in futures trade.