Muted demand drags down mentha oil by 1.5%

Mentha oil prices drifted lower by 1.49% to Rs 908.40 per kg in futures market today as participants reduced their exposure amid sluggish demand from consuming industries at the spot market.

In addition, sufficient stocks on rising arrivals from producing regions also fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in August fell by Rs 13.70 or 1.49% to Rs 908.40 per kg in business turnover of 194 lots.

The oil for delivery in July contracts was trading lower by Rs 13.30 or 1.46% to Rs 898 per kg in 424 lots.

Analysts said offloading of positions by traders due to subdued demand from consuming industries in spot market against adequate stocks on higher supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.