Muted demand drags down mentha oil futures by 0.56 pc

Mentha oil prices were trading down by 0.56 per cent to Rs 911.60 per kg in futures trade today as speculators trimmed their positions amid subdued demand at the spot market.

At the Multi Commodity Exchange, mentha oil for delivery this month contract declined by Rs 5.20, or 0.56 per cent, to Rs 911.60 per kg in a business turnover of 173 lots.

On similar lines, the oil for delivery in June contracts traded lower by Rs 2.80, or 0.30 per cent, to Rs 917.20 per kg in 21 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.)