Mentha oil prices softened by 1.51 per cent to Rs 1,295 per kg in futures trade today as speculators trimmed positions, driven by tepid demand from consuming industries at the spot market.
Besides, ample stocks position on higher supplies from major producing belt of Chandausi in Uttar Pradesh too fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in the current month declined by Rs 19.90, or 1.51 per cent to Rs 1,295 per kg in business turnover of 205 lots.
On similar lines, the oil for delivery in June shed Rs 8.90, or 0.76 per cent to Rs 1,166 per kg in 119 lots.
Analysts said off-loading of positions by participants on the back of sluggish demand from consuming industries in spot market against adequate stocks position, mainly weighed on mentha oil prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
