Mentha oil futures weaken on subdued demand

Mentha oil traded lower by Rs 3.40,or 0.47 per cent, to Rs 715.40 per kg in futures trade today as traders reduced their positions, triggered by sluggish demand in the spot market.

At the Multi Commodity Exchange, mentha for August month contract shed Rs 3.40, or 0.47 per cent, to Rs 715.40 per kg with an open interest of 2302 lots.

Similarly, the oil for delivery in July month lost Rs 2.60, or 0.38 per cent, to Rs 690.10 per kg in 4,522 lots.

Traders said a fall in spot demand in the  markets amid increased arrivals from Chandousi in Uttar Pradesh, a major producing centre, led to fall the in mentha oil futures prices.