Muted demand drags mentha oil futures by 2.13 pc

Mentha oil prices drifted lower by 2.13 per cent to Rs 1,202 per kg in futures trade today as speculators trimmed positions, driven by sluggish demand from industries at the spot market.
Besides, ample stocks position on higher supplies from producing regions too influenced mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery this month traded lower by Rs 26.20, or 2.13 per cent, to Rs 1,202 per kg, in a business turnover of 748 lots.
Similarly, the oil for delivery in April declined by Rs 23.40, or 1.93 per cent, to Rs 1,190 per kg in 124 lots.

Analysts said offloading of positions by participants due to subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade.