Mentha oil futures maintain downtrend on sluggish demand

Extending a falling streak for the fourth straight day, mentha oil prices fell further by 0.62 per cent to Rs 917.10 per kg in futures trading today as speculators engaged in reducing positions, driven by easing demand in the spot market.
Besides, adequate stocks position on increased arrivals from producing belts put pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in June declined by Rs 5.70, or 0.62 per cent, to Rs 917.10 per kg in a business turnover of 67 lots.
Likewise, the oil for delivery in May shed Rs 4, or 0.42 per cent, to Rs 957.40 per kg in 127 lots.

Marketmen said, trimming of positions by traders in line with subdued demand from consuming industries in the spot market against ample stocks on increased supplies from Chandausi in Uttar Pradesh, mainly kept mentha oil prices lower at futures trade.