Mentha oil prices drifted lower by 0.65 per cent to Rs 1,156.30 per kg in futures trade today as speculators trimmed their positions, taking negative cues from spot market on low demand from 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 7.60, or 0.65 per cent to Rs 1,156.30 per kg in business turnover of 240 lots.
Likewise, the oil for delivery in September shed Rs 6.90, or 0.59 per cent to Rs 1,170 per kg in 625 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries against sufficient stocks position, mainly led to decline in mentha oil prices at futures trade.
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