Falling for the second day, mentha oil prices drifted further down 1.15 per cent to Rs 937.10 per kg in futures trade today as speculators engaged in cutting down their bets, tracking a weak trend at spot market on fall in demand.
At the Multi Commodity Exchange, mentha oil for delivery in July moved down by Rs 10.90, or 1.15 per cent to Rs 937.10 per kg in business turnover of 488 lots.
Likewise, the oil for delivery in August contracts was trading lower by Rs 10.30, or 1.07 per cent to Rs 949 per kg in 81 lots.
Analysts said offloading of positions by participants, driven by easing demand from consuming industries in the physical market against ample stocks position on increased supplies from Chandausi in Uttar Pradesh, mainly kept mentha oil prices down at futures trade.
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