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Mentha oil remained weak for the fifth-straight session and prices fell further by 0.27% to Rs 816.10 per kg in futures trade today as speculators indulged in reducing positions amidst weak demand in the spot market.
Besides, higher supplies in the physical market put pressure on prices.
At the Multi Commodity Exchange, mentha oil for delivery in May declined by Rs 2.20, or 0.27%, to Rs 816.10 per kg in a business turnover of 38 lots.
Similarly, the oil for June contract traded lower by Rs 1.80, or 0.22%, to Rs 827.50 per kg in 108 lots.
Analysts said offloading of positions by speculators, driven by weak demand from consuming industries in the spot markets, mainly led to the fall in mentha oil at futures trade.
