Mentha oil futures remain weak, shed 1% on low demand

Mentha oil prices drifted further lower by 1 per cent to Rs 909 per kg in futures trade today as speculators engaged in reducing their positions amid sluggish demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in June fell by Rs 9.20, or 1 per cent, to Rs 909 per kg, in a business turnover of 35 lots.
Similarly, the oil for delivery in May shed Rs 8.10, or 0.89 per cent, to Rs 907 per kg in 135 lots.
Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the spot market against adequate stocks position on increased supplies from Chandausi in Uttar Pradesh mainly kept mentha oil prices lower at futures trade.