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Mentha oil prices drifted by 1.47% to Rs 926.40 per kg in futures trade today as speculators reduced their positions amid sluggish demand from consuming industries in the spot market.
Besides, adequate stocks in the physical markets following increased arrivals from producing regions put pressure on prices.
At the Multi Commodity Exchange, mentha oil for delivery in May fell Rs 13.90, or 1.47% to Rs 926.40 per kg in business turnover of 378 lots.
Similarly, the oil for delivery in April declined by Rs 12.80, or 1.37% to Rs 915.50 per kg in 1,060 lots.
Analysts said speculators reduced positions due to sluggish demand from consuming industries in the spot market against increased arrivals from Chandausi in Uttar Pradesh mainly pulled down mentha oil prices at futures trade.
