Muted demand drags down mentha oil futures by 1.08 pc

Mentha oil prices fell 1.08 per cent to Rs 995.30 per kg in futures trade today as speculators trimmed their positions amid increased arrivals in the physical market from major producing belts.
Furthermore, sluggish demand from consuming industries in the domestic spot market too added pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery this month eased by Rs 10.90 or 1.08 per cent to Rs 995.30 per kg in a business turnover of 40 lots.
On similar lines, the oil for delivery in far-month February traded lower by Rs 9, or 0.88 per cent, to Rs 1,008.30 per kg in 338 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.