Mentha oil futures remain weak on sluggish demand

New Delhi: Mentha oil prices fell further by 0.29 per cent to Rs 863.10 per kg in futures market today as participants engaged in reducing their positions, tracking a weak trend at spot market on subdued demand from consuming industries.

Besides, adequate stocks position on higher supplies from producing regions put pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in May declined by Rs 2.50, or 0.29 per cent to Rs 863.10 per kg in a business turnover of 142 lots.

On similar lines, the oil for delivery in far-month June contracts edged lower by Rs 1.50, or 0.17 per cent to Rs 871 per kg in 4 lots.

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