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Mentha oil remained weak for the second straight day and prices fell 1.78% to Rs 850.10 per kg in futures trade today as speculators engaged in booking profits, driven by a fall in demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in March fell further by Rs 15.40, or 1.78% to Rs 850.10 per kg in a business turnover of 668 lots.
In a similar fashion, the oil for delivery in April lost Rs 15.40, or 1.76%, to Rs 859.80 per kg in 162 lots.
Analysts said besides continued profit-booking by speculators, fall in demand from consuming industries in the spot market against adequate stocks position kept pressure on mentha oil prices at futures trade.
