Mentha oil down by 1.5% on ample stocks

Mentha oil remained weak for the second straight day and prices fell by another 1.51% to Rs 896.30 per kg in futures trading today amid adequate stocks on persistent supplies from producing belts at spot market against muted demand.

Besides, profit-booking weighed on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in December month dropped by Rs 13.70, or 1.51% to Rs 896.30 per kg in business turnover of 528 lots.

Similarly, the oil for delivery in January 2016 contracts traded lower by Rs 12.80, or 1.39% to Rs 909.40 per kg in 79 lots.

Analysts said ample stocks position, triggered by higher supplies from producing regions against subdued demand from consuming industries, mainly kept mentha oil prices lower at futures trade.