Mentha oil declines 0.74% on subdued demand

Higher supplies from producing regions fuel downtrend

Mentha oil prices fell by 0.74 per cent to Rs 693 per kg in futures market today due to subdued demand from consuming industries in the spot market against higher supplies from producing regions.

At the Multi Commodity Exchange market, mentha oil for delivery in December declined by Rs 5.20, or 0.74 per cent to Rs 693 per kg in business turnover of 601 lots.

The November contract traded lower by Rs 4.60, or 0.67 per cent to Rs 678.60 per kg in 400 lots.

Analysts said besides subdued demand from consuming industries in the spot market, higher supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.