Mentha oil prices drifted lower by 1.86 per cent to Rs 1,161 per kg in futures trade today as speculators trimmed their positions, taking negative cues from spot market on fall in demand from consuming industries.
Besides, ample stock positions on higher supplies from producing regions too weighed on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in August fell by Rs 22, or 1.86 per cent to Rs 1,161 per kg in business turnover of 385 lots.
Likewise, the oil for delivery in September contracts declined by Rs 21.80, or 1.82 per cent to Rs 1,174.10 per kg in 282 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the spot market against adequate stocks position on increased supplies from Chandausi in Uttar Pradesh mainly led to the fall in mentha oil prices at futures trade.
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