Mentha oil prices plunged by 1.40 per cent to Rs 872.70 per kg in futures market today as speculators trimmed positions amid low demand from consuming industries.
Besides, sufficient stocks on higher supplies from growing regions fueled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in December month dropped by Rs 12.40, or 1.40 per cent to Rs 872.70 per kg in business turnover of 181 lots.
Similarly, the oil for delivery in January next year lost Rs 12.30, or 1.37 per cent to Rs 885.20 per kg in 349 lots.
Analysts said offloading of positions by participants on the back of sluggish demand from consuming industries in spot market against adequate stocks on higher supplies from Chandausi in Uttar Pradesh kept pressure on mentha oil prices at futures trade.
