Mentha oil futures prices today tumbled by Rs 77.40, or 4% to hit lower circuits at Rs 1,856.20 per kg in the domestic market after speculators offloaded positions amid a weak spot demand and profit-booking.
In addition, increased arrivals in the spot markets from Chandousi in Uttar Pradesh further dampened trading sentiment.
At the Multi Commodity Exchange, the May delivery traded sharply lower by Rs 77.40, or 4%, to Rs 1,856.20 per kg, with a business volume of four lots.
The April delivery plunged by Rs 76.50, or 4%, to Rs 1,837 per kg, with a business turnover of four lots.
Analysts said weak demand from pharmacuetical industries in the spot markets against increased arrivals, mainly put pressure on the mentha oil prices at futures trade here.
