Mentha oil futures drop 0.70 pc on ample stocks

Mentha oil futures fell 0.70 per cent to Rs 922.30 per kg today as speculators trimmed their positions, driven by subdued industrial demand at the spot markets.
Ample stocks position on higher supplies from Chandausi in Uttar Pradesh too influenced mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in this month contract declined by Rs 6.50, or 0.70 per cent, to Rs 922.30 per kg in a business turnover of 153 lots.
Likewise, the oil for delivery in June contract was trading lower by Rs 2.80, or 0.30 per cent, to Rs 927 per kg in 27 lots.

Analysts said offloading of positions by participants owing to slackened demand from consuming industries in spot market against ample stocks mainly led to the decline in mentha oil prices in futures trade.