At the Multi Commodity Exchange, February mentha oil fell by Rs 8.60, or 0.66%, to Rs 1,300 per kg in 17 lots.
The December contract shed Rs 6.80, or 0.51%, to Rs 1,317.60 per kg in 400 lots.
Market analysts said the fall in mentha oil prices was mostly due to profit-booking by speculators amid a weak trend in the spot market following a fall in demand.