Mentha oil futures slide 0.24 per cent on weak demand

NEW DELHI: Mentha oil prices declined by 0.24 per cent to Rs 793.30 per kg in futures trade today as speculators trimmed positions, driven by weak spot demand.

Further, higher supplies from producing regions also put pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in June shed Rs 1.90, or 0.24 per cent to Rs 793.30 per kg in business turnover of 122 lots.

Similarly, the oil for delivery in July traded lower by the same margin to Rs 806.10 per kg in 49 lots.

Market analysts attributed the fall in mentha oil futures to offloading of positions by speculators amid weak demand from consuming industries in the spot market mainly led to the fall in mentha oil prices at futures trade.