Mentha oil prices decline on muted spot demand

NEW DELHI: Mentha oil prices declined in futures trade on Tuesday on muted demand by consuming industries at the spot market.

Around 11:40 am, MCX Mentha oil was at Rs 1,490 per kg, down by Rs 12.20, or 0.81 per cent.

As per analysts, speculators trimmed positions in mentha futures, triggered by muted demand from consuming industries at the spot market and adequate stocks on higher supplies from the major producing regions.


"Mentha Oil prices fell owing to continued supply at the spot market amid the slump in demand," said Mustafa Nadeem, CEO, Epic Research.

Mentha has not been able to sustain higher levels as speculators have been largely bearish on this commodity.

"The demand has been overshadowed by steady flows at the spot market and higher production estimates. Mentha oil is expected to remain bearish, with a broader range for prices being Rs 1,410-1,330. We maintain sell on any advance," Nadeem said.