Mentha oil prices drifted further down by 0.21 per cent to Rs 1,512.80 per kg in futures trade today as speculators reduced holdings amid easing demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in February declined by Rs 3.20, or 0.21 per cent to Rs 1,512.80 per kg in business turnover of 149 lots.
Likewise, the oil for delivery in January shed Rs 1.50, or 0.10 per cent to Rs 1,500.80 per kg 144 lots.
Analysts said cutting down of positions by participants following fall in demand from consuming industries in the physical market against adequate stocks position on increased supplies from growing regions kept mentha oil prices lower.
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