Mentha oil futures move down 0.77% on tepid demand

Mentha oil prices drifted lower by 0.77 per cent to Rs 920 per kg in futures market today as participants offloaded their positions amid easing demand in the physical market.
Besides, adequate stock position on increased supplies from producing belts fuelled the downtrend.
At Multi Commodity Exchange, mentha oil for delivery in June fell by Rs 7.10, or 0.77 per cent, to Rs 920 per kg in a business turnover of 168 lots.
Likewise, the oil for delivery in July contracts declined by Rs 6.70, or 0.71 per cent, to Rs 933.60 per kg in 119 lots.
Analysts said trimming of positions by traders due to fall in demand from consuming industries in the spot market against adequate stock position on increased arrivals from Chandausi in Uttar Pradesh caused the decline in mentha oil prices.