Mentha oil falls by 0.2% on muted demand

Falling for the second straight day, mentha oil prices shed 0.22% to Rs 950 per kg in futures trading today as traders engaged in trimming their positions, triggered by subdued demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in November drifted by Rs 2.10, or 0.22%, to Rs 950 per kg in a business turnover of 335 lots.

Likewise, the oil for delivery in December weakened by Rs 1.80, or 0.19%, to Rs 962 per kg in 46 lots.

Analysts said offloading of positions by traders on the back of weak demand from consuming industries in the spot market against adequate stocks position mainly kept lower mentha oil prices at futures trade.