Mentha oil futures extend losses, down 3.68% on low demand

NEW DELHI: Mentha oil drifted further lower by 3.68 per cent to Rs 1,610 per kg in futures market today as speculators engaged in reducing their holdings, driven by easing demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in February fell by Rs 61.50, or 3.68 per cent to Rs 1,610 per kg in business turnover of 81 lots.

Likewise, the oil for delivery January moved down by Rs 54.80, or 3.33 per cent to Rs 1,589 per quintal in 385 lots.

Analysts said cutting down of positions by participants owing to slackened demand from consuming industries in the spot market against adequate stocks position on increased arrivals from Chandausi in Uttar Pradesh, kept mentha oil prices down at futures trade.