Mentha oil prices fell Rs 2.40, or 0.3 per cent, to Rs 703.50 per kg in futures trade today, as speculators indulged in profit-booking amid fall in demand in the spot market.
Increased arrivals in the spot market from the producing belts in Uttar Pradesh also weighed on the prices.
On the Multi Commodity Exchange counter, mentha oil for July contract drifted by Rs 2.40, or 0.33 per cent, to Rs 703.50 per kg, clocking a business volume of 220 lots.
Similarly, the oil for delivery in August contract eased by Rs 1.90, or 0.25 per cent, to Rs 729.20 per kg, with a business turnover of 54 lots, while September contract fell by Rs 1.80, or 0.24 per cent, to Rs 737.40 per kg, with an open interest of 24 lots.
Market analysts said the fall in mentha oil prices was due to profit-taking by speculators and a weakening trend at spot markets.