Mentha oil slips in futures trade on muted spot demand

Mentha oil prices slipped in futures trade on Friday as muted demand by consuming industries at spot markets weighed on the commodity.

Speculators trimmed positions in mentha oil futures due to a fall in demand from consuming industries at the spot market against adequate supplies from key producing regions.

Around 1:25 pm, MCX Mentha oil was at Rs 1,340 per kg, down by Rs 5.30, or 0.39 per cent.

Experts say sentiment may remain bearish in mentha oil over concerns of oversupply.

The supply in key spot markets in UP remains higher while the demand is seen deteriorating at any higher levels in prices.