Muted demand drags down mentha oil futures 0.30 pc

Mentha oil prices were trading down by 0.30 per cent to Rs 1,287 per kg in futures trade today as speculators trimmed positions, driven by a sluggish demand from consuming industries at the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in November declined by Rs 4, or 0.30 per cent, to Rs 1,287 per kg in a business turnover of 429 lots.
On similar lines, the oil for delivery in far-month December traded lower by Rs 3.10, or 0.24 per cent, to Rs 1,301.60 per kg in 143 lots.
Analysts said offloading of positions by participants on the back of subdued demand from consuming industries in spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices at futures trade.