Mentha oil futures decline on sluggish spot demand

NEW DELHI, Dec 8:  Mentha oil prices traded lower by Rs 1.90 or 0.27 per cent to Rs 702.50 per kg in futures market today following a subdued demand in spot markets.
At the Multi Commodity Exchange, mentha oil for delivery in December declined by Rs 1.90, or 0.27 per cent to Rs 702.50 per kg in business turnover of 172 lots.
The oil for delivery in January contract shed Rs 1.30, or 0.18 per cent to Rs 713.40 per kg in 35 lots.
Analysts said offloading of positions by speculators due to subdued demand from consuming industries in spot market mainly led to the fall in mentha oil prices at futures trade.
Adequate stocks in spot markets on increased arrivals from Chandausi in Uttar Pradesh put pressure on mentha oil prices. (PTI)


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