Mentha oil futures fall 2.02% on muted demand

Mentha oil prices tumbled 2.02 per cent to Rs 1,582 per kg in futures trade today as speculators trimmed positions on muted demand from consuming industries in the spot market.
Besides, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh fuelled the downtrend.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in February declined Rs 32.70, or 2.02 per cent, to Rs 1,582 per kg in a business turnover of 126 lots.
On similar lines, the oil for delivery in the current month traded lower by Rs 25, or 1.56 per cent, at Rs 1,570 per kg in 431 lots.

Analysts said offloading of positions by participants amid subdued demand from consuming industries in spot market led to the decline in mentha oil prices in futures trade.