Muted demand drags down mentha oil futures by 1.35%

Mentha oil prices eased by 1.35 per cent to Rs 959 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 this month eased by Rs 13.20, or 1.35 per cent, to Rs 959 per kg, in a business turnover of 166 lots.
On similar lines, the oil for delivery in January next year traded lower by Rs 3.60, or 0.37 per cent, to Rs 975.70 per kg in 10 lots.
Analysts said offloading of positions by participants due to subdued demand from consuming industries in spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices at futures trade.