Mentha oil futures down 0.70% on higher supply

NEW DELHI: Mentha oil futures prices today moved down by 0.70 per cent to Rs 886 per kg due to higher supplies from producing regions against lower demand from pharmaceutical units.

Adequate stocks following higher supplies from producing region in the physical market also kept pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in September declined by Rs 6.30, or 0.70 per cent, to Rs 886 per kg in business turnover of 248 lots.

Likewise, the oil for delivery in October traded lower by Rs 2.80, or 0.30 per cent, to Rs 902.70 per kg in 37 lots.

Market experts said sufficient stocks positions due to higher supplies in the physical market against subdued demand from pharmaceutical units, influenced mentha oil prices at futures market.