Mentha oil futures decline 0.46% on subdued demand

New Delhi: Mentha oil prices eased by 0.46 percent to Rs 815.20 per kg in futures trading Monday as speculators indulged in reducing positions amid sluggish demand from consuming industries in the spot market.

Besides, adequate stocks position in the physical market on higher supplies from producing belts put pressure on mentha oil prices.

At the Multi Commodity Exchange (MCX), mentha oil for delivery in March fell by Rs 3.80, or 0.46 percent, to Rs 815.20 per kg in a business turnover of 78 lots.

Similarly, the oil for delivery in April traded lower by Rs 2.40, or 0.29 percent, to Rs 827.30 per kg in 199 lots.

Analysts said offloading of positions by speculators amid subdued demand from consuming industries in the spot market mainly led to the decline in mentha oil prices at futures trade.