Mentha oil prices drifted lower by 0.26 per cent to Rs 876 per kg in futures market today as speculators indulged in reducing their positions, tracking a weak trend at spot market on sluggish demand from consuming industries.
At the Multi Commodity Exchange, mentha oil for delivery in September month fell by Rs 2.30, or 0.26 per cent to Rs 876 per kg in business turnover of 29 lots.
Likewise, the oil for delivery in October contracts moved down by Rs 2.20, or 0.25 per cent to Rs 887 per kg in 26 lots.
Analysts said trimming of positions by traders owing to slackened demand from consuming industries in spot market against adequate stocks position on higher supplies from Chandausi in Uttar Pradesh mainly influenced mentha oil prices at futures trade.
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