Mentha oil futures drifted lower by 0.29 per cent to Rs 1,644 per kg in futures trade today as speculators trimmed their positions amid easing demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, mentha oil for delivery in August declined by Rs 4.80, or 0.29 per cent, to Rs 1,644 per kg in business turnover of 64 lots.
Likewise, the oil for delivery in September contracts traded lower by Rs 4, or 0.24 per cent, to Rs 1,682.60 per kg in 4 lots.
Analysts said besides easing demand from consuming industries in the physical markets, adequate stocks position on increased arrivals from Chandausi in Uttar Pradesh mainly led to decline in mentha oil prices in futures trade.
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