Mentha oil futures slide 0.54% on subdued demand

NEW DELHI: Mentha oil prices were down 0.54 per cent to Rs 908 per kg in futures trading today as traders reduced positions owing to slackened demand from consuming industries in the spot market.

Besides, adequate stocks position on higher supplies from major producing belts in Uttar Pradesh put pressure on mentha oil prices.

At Multi Commodity Exchange, mentha oil for delivery in September month fell Rs 4.90, or 0.54 per cent, to Rs 908 per kg in business turnover of 147 lots.

In a similar fashion, the oil for delivery in October contracts traded lower by Rs 4.70, or 0.51 per cent, to Rs 920.10 per kg in 61 lots.

Analysts attributed the fall in mentha oil futures to easing demand from consuming industries in the physical market against sufficient stocks on higher supplies from Chandausi in Uttar Pradesh.