Muted demand drags down mentha oil futures by 0.16%

Mentha oil prices declined by 0.16 per cent to Rs 1,166.30 per kg in futures trade today as speculators trimmed their positions, taking negative cues from spot market on easing demand from industries.

At the Multi Commodity Exchange, mentha oil for delivery in August fell by Rs 1.90, or 0.16 per cent to Rs 1,166.30 per kg in business turnover of 27 lots.

Likewise, the oil for delivery in September contracts shed 50 paise, or 0.04 per cent to Rs 1,183 per kg in 233 lots.

Analysts said offloading of position by participants owing to slackened demand from consuming industries mainly weighed on mentha oil prices at futures trade.

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