Mentha oil turns weak on subdued demand

NEW DELHI: Mentha oil prices fell by Rs 5.60 or 0.81 per cent to Rs 687.70 per kg in futures market today on subdued demand in spot markets amid fresh arrivals from the Chandausi market in Uttar Pradesh. Reduced offtake by pharmaceutical units also put pressure on the trading sentiment at futures market.

At the Multi Commodity Exchange, mentha oil for May contract declined by Rs 5.60, or 0.81 per cent to Rs 687.70 per kg, with an open interest of 3,879 lots. Similarly, the oil for delivery in June-month contract lost Rs 4.90, or 0.70 per cent to Rs 691.50 per kg, with a business turnover of 1,875 lots.

Traders said, subdued demand in spot market against fresh arrivals from Chandausi in Uttar Pradesh, a major producing centre, mainly led to a fall in mentha oil prices at futures trade.