Mentha oil prices drifted lower by 1.12 per cent to Rs 934.50 per kg in futures market today as speculators trimmed their positions, driven by easing demand from consuming industries at the spot market.
Furthermore, ample stocks position on higher supplies from producing regions, too weighed on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in November fell by Rs 10.60, or 1.12 per cent, to Rs 934.50 per kg, in a business turnover of 19 lots.
Likewise, the oil for delivery in December declined by Rs 10, or 1.05 per cent, to Rs 944.30 per kg in 47 lots.
Analysts said, offloading of positions by participants owing to sluggish demand from consuming industries in spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh, mainly influenced mentha oil prices at futures trade.
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