Mentha oil futures decline 0.14 pc on low demand

Mentha oil prices drifted lower by 0.14 per cent to Rs 902.10 per kg in futures trade today as speculators trimmed positions, driven by sluggish demand from industries at the spot market.
Besides, ample stock positions on higher supplies from producing regions too influenced mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in July traded lower by Rs 1.30, or 0.14 per cent, to Rs 902.10 per kg, in a business turnover of 394 lots.
On similar lines, the oil for delivery in current month declined by Rs 1.20, or 0.13 per cent, to Rs 886.80 per kg in 176 lots.

Analysts said offloading of positions by participants due to subdued demand from consuming industries in the spot market against ample stock positions on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade.