Muted demand drags mentha oil futures by 0.17%

Mentha oil prices eased by 0.17 per cent to Rs 938.80 per kg in futures trade today as speculators cut down their bets amid subdued demand at spot market.
At the Multi Commodity Exchange, mentha oil for delivery in May declined by Rs 1.60, or 0.17 per cent to Rs 938.80 per kg in business turnover of 52 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in spot market led to the slide in mentha oil prices in futures trade.
The demand weakened at spot markets due to ample stocks position on increased supplies from Chandausi in Uttar Pradesh.