Mentha oil futures trade marginally lower on muted demand

Mentha oil prices traded marginally lower by 0.43 per cent to Rs 890 per kg in futures trade today as speculators trimmed positions, driven by subdued demand from consuming industries at the spot market.
Besides, ample stocks position on higher supplies from producing regions too influenced mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery this month eased by Rs 3.90, or 0.43 per cent, to Rs 890 per kg, in a business turnover of 236 lots.
On similar lines, the oil for delivery in August traded lower by Rs 3.70, or 0.40 per cent, to Rs 903.50 per kg in 17 lots.

Analysts said offloading of positions by participants due to subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade.