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Mentha oil prices dropped 1.87 per cent to Rs 694 per kg in futures trading today as speculators reduced positions, tracking sluggish demand in the spot market.
Besides, adequate stocks positions in the physical market on increased supplies from producing region also put pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in September plunged by Rs 13.20, or 1.87 per cent, to Rs 694 per kg in business turnover of 1859 lots.
The August contract declined by Rs 12.20, or 1.76 per cent, to Rs 681 per kg in 1,579 lots.
Analysts attributed fall in mentha oil prices at futures trade to reducing of positions by speculators, driven by subdued demand from consuming industries in the spot market.
