Mentha oil prices plunged by 3.10 per cent to Rs 944 per kg in futures trade today as speculators trimmed their positions, driven by a sluggish demand from consuming industries at the spot market.
At the Multi Commodity Exchange, mentha oil for delivery this month declined by Rs 30.20 or 3.10 per cent to Rs 944 per kg in a business turnover of 1,261 lots.
On similar lines, the oil for delivery in December traded lower by Rs 29.40 or 2.99 per cent to Rs 954 per kg in 269 lots.
Analysts said offloading of positions by participants on the back of subdued demand from consuming industries in spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices at futures trade.
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