Mentha oil futures drifted lower by 0.29 per cent to Rs 1,759 per kg in futures trading today as speculators booked profits, driven by easing demand at the spot market against adequate stocks position.
At the Multi Commodity Exchange, mentha oil for delivery in September fell by Rs 5.20, or 0.29 per cent, to Rs 1,759 per kg in business turnover of 196 lots.
Likewise, the oil for delivery in August contracts shed Rs 2.90, or 0.17 per cent, to Rs 1,708.50 per kg in 50 lots.
Analysts said besides profit-booking by participants, fall in demand from consuming industries in the physical markets against ample stocks position weighed on mentha oil futures.
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