Muted demand drags down mentha oil futures by 1.42%

Mentha oil prices eased by 1.42 per cent to Rs 977.40 per kg in futures trade today as speculators trimmed 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 14.10, or 1.42 per cent, to Rs 977.40 per kg, in a business turnover of 711 lots.
On similar lines, the oil for delivery in May traded lower by Rs 11.10, or 1.11 per cent, to Rs 987 per kg in 150 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.