Continuing its losing streak for the third straight session, mentha oil futures prices fell by Rs 25.20 to Rs 1,111 per kg in futures trade today, as speculators reducing their positions on the back of weak trend at the spot market.
Adequate stocks in the physical market following increased arrivals from Chandousi market in Uttar Pradesh also put pressure on the mentha futures prices here.
At the Multi Commodity Exchange counter, mentha oil for delivery in March dropped by Rs 25.20, or 2.22 per cent, to Rs 111 per kg, with a business turnover of two lots.
Similarly, the oil for delivery in January lost Rs 15.70, or 1.39 per cent, to Rs 1,112.30 per kg, with an open interest of just one lot.
Traders said offloading of positions by speculators, triggered by weakening trend at the spot market led to sharp fall in mentha oil prices at futures trade.
Besides, increased arrivals from Chandousi in Uttar Pradesh also put pressure on the mentha oil futures prices, they added.
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