Muted demand drags down mentha oil futures by 1.41%

Mentha oil prices fell 1.41 per cent to Rs 1,271.50 per kg in futures trade today as speculators trimmed positions amid muted demand from consuming industries at the spot market.
Besides, ample stocks position on higher supplies from major producing belt of Chandausi in Uttar Pradesh too fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in February fell by Rs 18.20, or 1.41 per cent, to Rs 1,271.50 per kg in a business turnover of 113 lots.
Likewise, the oil for delivery in March contracts was trading lower by Rs 17.60, or 1.35 per cent, at Rs 1,281.40 per kg in 297 lots.

Analysts said offloading of positions by participants amid low demand from consuming industries in the physical market led to the decline in mentha oil futures.