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Mentha oil prices plunged by 2.83% to Rs 884.50 per kg in futures trade today as speculators booked profits at prevailing levels amid sluggish demand in the spot market against adequate supplies.
At the Multi Commodity Exchange, mentha oil for delivery in July plunged by Rs 25.80, or 2.83%, to Rs 884.50 per kg in business turnover of 547 lots.
Similarly, the oil for delivery in August contract lost Rs 25.10, or 2.72%, to Rs 898 per kg in 209 lots.
Market analysts said profit-booking by speculators at prevailing levels, driven by subdued demand in the spot market mainly kept pressure on mentha oil prices at futures trade.
