Mentha oil futures extend losses, down 0.54% on low demand

Extending losses for the second straight day, mentha oil prices fell further by 0.54% to Rs 682 per kg in futures trading today as speculators indulged in reducing their positions, driven by falling demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in September fell by Rs 3.70, or 0.54% to Rs 682 per kg in business turnover of 323 lots.

Similarly, the oil for delivery in October contracts declined by Rs 2.50, or 0.36% to Rs 694 per kg in 56 lots.

Analysts said offloading of positions by speculators owing to fall in demand from consuming industries in the spot market mainly pulled down mentha oil prices at futures trade.