Muted demand drags down mentha oil futures by 0.42%

Mentha oil prices fell by 0.42 per cent to Rs 1,028 per kg in futures trade today as speculators trimmed their positions, driven by a sluggish demand from consuming industries at the spot market.

At the Multi Commodity Exchange, mentha oil for delivery this month declined by Rs 4.40, or 0.42 per cent, to Rs 1,028 per kg, in a business turnover of 209 lots.

On similar lines, the oil for delivery in March traded lower by Rs 4.20, or 0.40 per cent, to Rs 1,038.60 per kg in 48 lots.

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

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)