Mentha oil prices declined by Rs 1.60, or 0.22 per cent, to Rs 731 per kg in futures trade today, as traders booked profits at existing higher prices amid fall in demand in spot markets.
Lower trend at producing centres in Uttar Pradesh also put pressure on the prices. At the Multi Commodity Exchange counter, mentha oil for delivery in July contract declined by Rs 1.60, or 0.22 per cent, to Rs 731 per kg, with an open interest of 2,851 lots.
The oil for delivery in June contract also shed Rs 1.10, or 0.15 per cent, to Rs 720.20 per kg, with a trading volume of 1,895 lots.
Traders said, the mentha oil prices fell on profit booking by speculators at existing higher levels, driven by less demand in the spot market.
Reduced offtake by pharmaceutical units also put pressure on the prices, they said.
