Muted demand drags down mentha oil futures by 0.19%

Mentha oil prices softened by 0.19 per cent to Rs 909.10 per kg in futures trade today as speculators trimmed their positions, driven by sluggish demand from consuming industries at the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in September month eased by Rs 1.70 or 0.19 per cent to Rs 909.10 per kg in business turnover of 220 lots.
On similar lines, the oil for delivery in October contracts traded lower by Rs 1.10, or 0.12 per cent to Rs 919.50 per kg in 10 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 decline in mentha oil prices at futures trade.