Mentha oil futures decline on subdued demand

New Delhi, Sep 29: Mentha oil prices fell by 0.29 per cent to Rs 869 per kg in futures trading today as speculators trimmed their holdings, tracking muted demand from consuming industries at the spot market.

Further, increased arrivals from producing regions also fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in October shed Rs 2.60, or 0.29 per cent, to Rs 869 per kg,
in a business turnover of 195 lots.

Similarly, the oil for delivery in September traded lower by Rs 2.00, or 0.23 per cent, to Rs 862 per kg in 55 lots.

Analysts said offloading of positions by speculators on sluggish demand from consuming industries in spot market against higher supplies from Chandausi in Uttar Pradesh kept pressure on mentha oil prices at futures trade.