Mentha oil prices drifted lower by 0.36 per cent to Rs 1,022 per kg in futures market today as speculators trimmed their positions, driven by easing demand from consuming industries in the spot market against adequate stocks position.
At the Multi Commodity Exchange, mentha oil for delivery in current month fell by Rs 3.70, or 0.36 per cent to Rs 1,022 per kg in business turnover of 97 lots.
Similarly, the oil for delivery in January contracts shed Rs 2.50, or 0.24 per cent to Rs 1,031.90 per kg in 100 lots.
Analysts said offloading of positions by participants owing to slackened demand from consuming industries in spot market, mainly influenced mentha oil prices at futures trade.
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