Mentha oil prices plunged by 1.49 per cent to Rs 1,010.20 per kg in futures trade today as speculators trimmed their positions, driven by a sluggish demand from consuming industries at the spot market.
Furthermore, ample stocks position on higher supplies from producing belts of Chandausi in Uttar Pradesh, too influenced mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery this month declined by Rs 15.30 or 1.49 per cent to Rs 1,010.20 per kg in a business turnover of 151 lots.
On similar lines, the oil for delivery in March was trading lower by Rs 15.20 or 1.47 per cent to Rs 1,020 per kg in 91 lots.
Analysts said offloading of positions by participants due to subdued demand from consuming industries at the spot market against ample stocks position due to higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices at futures trade.
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