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Mentha oil prices declined by 1.14% to Rs 842.60 per kg in futures trade today as traders reduced positions, tracking a weak trend at spot market on sluggish industrial demand.
Besides, adequate stocks position in the physical market, following higher arrivals from Chandousi in Uttar Pradesh, also put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in April fell by Rs 9.80, or 1.14%, to Rs 842.60 per kg in a business turnover of 247 lots.
Similarly, the oil for delivery in May declined by Rs 8.50, or 0.98%, to Rs 854.50 per kg in 82 lots.
Market analysts said reducing of positions by participants, triggered by sluggish industrial demand in the spot market, mainly led to fall in mentha oil prices at futures market.
