Mentha oil futures remain weak on sluggish demand

NEW DELHI: Mentha oil remained weak for the second straight day and prices fell further by 0.93 per cent to Rs 885.80 per kg in futures trade today on sluggish demand from consuming industries in the spot market.

Besides, adequate stocks availability in the physical market following increased arrivals from producing regions put pressure on mentha oil.

At the Multi Commodity Exchange, mentha oil for delivery in March fell further by Rs 8.30, or 0.93 per cent to Rs 885.80 per kg in business turnover of 115 lots.

Similarly, the oil for delivery in April traded lower by Rs 8.30, or 0.92 per cent to Rs 896.80 per kg in 98 lots.

Analysts said sluggish demand from consuming industries in the spot market against increased arrivals from Chandausi in Uttar Pradesh mainly led to decline in mentha oil prices at futures trade.