Mentha oil prices fell by Rs 21.60 to Rs 1,127 per kg in futures trade today as traders indulged in profit-booking amid fall in the spot market demand.
Increased arrivals in the spot market from the producing belts in Uttar Pradesh also put pressure on the prices.
At the Multi Commodity Exchange, mentha oil for September delivery declined by Rs 21.60, or 1.88%, to Rs 1,127 per kg, clocking a business volume of 71 lots.
August oil eased by Rs 17.40, or 1.52%, to Rs 1,126 per kg, with a business turnover of 325 lots. The mentha oil for October delivery also fell by Rs 17, or 1.47%, to Rs 1,130.50 per kg, with an open interest of 11 lots.
Market analysts said the fall in mentha oil prices was mostly due to profit-taking by speculators amid fall in spot market demand. They added that weak demand from the consuming industries also put pressure on the mentha oil futures prices.