Mentha oil futures edge lower on MCX

Mentha oil futures declined on MCX as speculators reduced their holdings driven by sluggish demand from consuming industries in the spot market against supply pressure from Chandausi in Uttar Pradesh. Besides, expectations of higher output from the major producing belts too adding pressure on mentha oil prices. The contract for May delivery was trading at Rs 833.00, down by 0.10% or Rs 0.80 from its previous closing of Rs 833.80. The open interest of the contract stood at 2983 lots. The contract for June delivery was trading at Rs 844.30, down by 0.24% or Rs 2.00 from its previous closing of Rs 846.30. The open interest of the contract stood at 1590 lots on MCX.