Muted demand drags down mentha oil futures by 0.42%

Mentha oil prices moved down by 0.42 per cent to Rs 1,190.90 per kg in futures market today as speculators trimmed positions, taking negative cues from spot market on sluggish demand from consuming industries.

Besides, ample stock positions on higher supplies from producing regions fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in October fell by Rs 5, or 0.42 per cent to Rs 1,190.90 per kg in business turnover of 14 lots.

Likewise, the oil for delivery in September contracts was trading lower by Rs 4.20, or 0.36 per cent to Rs 1,176 per kg in 149 lots.

Marketmen said offloading of positions by participants, tracking a weak trend at spot market on subdued demand from consuming industries in the physical market, mainly led to decline in mentha oil prices at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)