Mentha oil fall by 0.4% on low demand

Mentha oil prices fell further by 0.40% to Rs 705.90 per kg in futures trading today as speculators trimmed positions, triggered by low demand from consuming industries against higher supplies from producing belt.

At the Multi Commodity Exchange, mentha oil for delivery in December shed another Rs 2.80, or 0.40% to Rs 705.90 per kg in business turnover of 149 lots.

Also, the oil for delivery in January next year contract edged down by Rs 1.40, or 0.19% to Rs 717.30 per kg in 11 lots.

Analysts said offloading of positions by speculators on the back of low demand from consuming industries in spot market against higher supplies from Chandausi in Uttar Pradesh kept pressure on mentha oil prices at futures trade.