Mentha oil prices tumbled by Rs 26.10 to Rs 845.10 per kg in futures trade today on heavy offloading by speculators, driven by sluggish demand in the spot market.
In addition, adequate stock availability following increased arrivals from Chandousi, in Uttar Pradesh, also put pressure on mentha oil prices.
At the Multi Commodity exchange, mentha oil for June delivery plunged by Rs 26.10, or 3%, to Rs 845.10 per kg, with a business turnover of 520 lots.
July delivery plunged by Rs 26.20, or 3%, to Rs 848.10 per kg in 303 lots.
Analysts said a weak trend in the physical market amid sluggish demand from pharmaceutical units against adequate stocks availability, mainly led to the sharp fall in mentha oil futures prices.
