Muted demand drags down mentha oil futures by 0.58 pc

Mentha oil prices fell by 0.58 per cent to Rs 1,068.20 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 in February declined by Rs 6.20, or 0.58 per cent, to Rs 1,068.20 per kg, in a business turnover of 68 lots.
On similar lines, the oil for delivery this month traded lower by Rs 5.60, or 0.52 per cent, to Rs 1,062.80 per kg in 498 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.