Mentha oil prices dropped by 1.51 per cent to Rs 1,027 per kg in futures trade today as speculators trimmed their positions, driven by fall in demand from consuming industries at spot market.
Moreover, ample stocks position on higher supplies from producing regions too fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in July month fell by Rs 15.70, or 1.51 per cent to Rs 1,027 pr kg in business turnover of 130 lots.
Similarly, the oil for delivery in August declined by Rs 15.50, or 1.47 per cent to Rs 1,038.50 per kg in 324 lots.
Analysts said trimming of positions by participants due to easing demand from consuming industries in spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh, mainly led to the fall in mentha oil prices in futures trade.
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