Mentha oil prices drifted lower by 1.18 per cent to Rs 1,140.10 per kg in futures trade today as speculators trimmed their positions amid low demand from consuming industries at the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in this month drifted lower by Rs 13.70, or 1.18 per cent, to Rs 1,140.10 per kg in a business turnover of 311 lots.
On similar lines, the oil for delivery in July fell by Rs 12.40, or 1.06 per cent, to Rs 1,157 per kg in 256 lots.
Analysts said offloading of positions by participants on the back of subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices at futures trade.