Mentha oil futures decline on subdued demand

NEW DELHI, Nov 10:  Mentha oil prices fell by 1.16 per cent to Rs 925.30 per kg in futures trading today as speculators cut down their bets, 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 this month declined Rs 10.90 or 1.16 per cent to Rs 925.30 per kg in a business turnover of 569 lots.
Similarly, the oil for delivery in December traded lower by Rs 7.40 or 0.78 per cent to Rs 937.50 per kg in 236 lots.
Analysts said offloading of positions by speculators due to 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. (PTI)

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