Mentha oil prices went down by 2.97 per cent to Rs 1,135 per quintal in futures trade today, as speculators trimmed positions, driven by subdued demand from consuming industries at spot market.
Besides, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh, fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in June declined by Rs 34.70, or 2.97 per cent, to Rs 1,135 per kg in a business turnover of 462 lots.
Likewise, the oil for delivery in July traded lower by Rs 34.10, or 2.88 per cent, at Rs 1,148 per kg in 174 lots.
Analysts said, offloading of positions by participants owing to slackened demand from consuming industries at the spot market against ample stocks position led to the decline in mentha oil prices in futures trade.
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