Mentha oil futures decline on lower demand

Mentha oil futures declined on MCX on lower demand of the commodity in the spot markets. Moreover, ample stocks position in the physical market following increased arrivals from the major producing belts too fuelled the downtrend in mentha oil prices. The contract for May delivery was trading at Rs 870.80, down by 0.30% or Rs 2.60 from its previous closing of Rs 873.40. The open interest of the contract stood at 3616 lots. The contract for June delivery was trading at Rs 881.90, down by 0.32% or Rs 2.80 from its previous closing of Rs 884.70. The open interest of the contract stood at 1170 lots on MCX.