Mentha oil futures down 0.60 pc on supply pressure

NEW DELHI: Mentha oil prices moved down by 0.60 per cent to Rs 1,273 per kg in futures trade today on sufficient stocks in spot markets following increased arrivals from producing belts against weak industrial demand.

At the Multi Commodity Exchange, mentha oil for delivery in March declined by Rs 8.20, or 0.60 per cent, to Rs 1,273 per kg in business turnover of 216 lots.

Similarly, the oil for delivery in the February contract traded lower by Rs 1.50, or 0.11 per cent, to Rs 1,305.20 per kg in 888 lots.

Market analysts attributed the fall in mentha oil futures to sufficient supplies at spot market on higher arrivals from Chandausi in Uttar Pradesh against weak industrial demand.