Muted demand drags down mentha oil futures by 0.56 pc

Mentha oil prices fell by 0.56 per cent to Rs 975.70 per kg in futures trade today as speculators trimmed their positions, triggered by muted demand from consuming industries at the spot market.
At the Multi Commodity Exchange, mentha oil for delivery this month declined by Rs 5.50 or 0.56 per cent to Rs 975.70 per kg in a business turnover of 112 lots.
On similar lines, the oil for delivery in January next year traded lower by Rs 3.90, or 0.39 per cent, to Rs 985.50 per kg in 5 lots.
Analysts said, offloading of positions by participants amid subdued demand from consuming industries in spot market, mainly led to the decline in mentha oil prices at futures trade.