Continuing its losing streak for the third straight day, mentha oil prices fell further by Rs 34.70 to Rs 1,387.50 per kg in futures trade today after speculators reduced their positions following increased supplies from producing regions.
At the MCX, the May delivery fell by Rs 34.70, or 2.44%, to Rs 1387.50 per kg in business turnover of 331 lots.
The June contract traded lower by Rs 2.50, or 0.19%, to Rs 1,317 per kg in 148 lots.
Traders said increased supplies from Chandousi in Uttar Pradesh and sluggish demand from pharmaceutical industries mainly kept pressure on mentha oil prices at futures market here.