Mentha oil prices tumbled 4% to hit the lower circuit at Rs 1,380.80 per kg in futures trading today on profit-booking by the speculators amid weak spot demand from pharmaceutical industries.
Restricted arrivals in the physical market from Chandousi in Uttar Pradesh also weighed on the mentha oil prices at futures market.
At the Multi Commodity Exchange, the May contract tumbled by Rs 57.50, or 4%, to hit a lower circuit at Rs 1,380.80 per kg, with a business turnover of five lots.
The June delivery lost Rs 53.90, or 4%, to Rs 1,288.90 per kg, with a business turnover of 19 lots.
Analysts said besides profit-booking by speculators, weak demand from pharmaceutical units in the spot market mainly pulled down mentha oil prices at futures trade.
