Muted demand drags down mentha oil futures by 0.23%

Mentha oil prices eased by 0.23 per cent to Rs 966 per kg in futures market today as speculators trimmed positions, driven by muted demand from consuming industries in spot market against adequate stocks.
At the Multi Commodity Exchange, mentha oil for delivery in March fell by Rs 2.20, or 0.23 per cent, to Rs 966 per kg in business turnover of 20 lots.
Similarly, the oil for delivery in April contracts shed Rs 1.30, or 0.13 per cent to Rs 977 per kg in 56 lots.
Analysts said offloading of positions by participants amid tepid demand from consuming industries in spot market against ample stocks position, mainly led to decline in mentha oil prices at futures trade.