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Mentha oil remained weak for the second straight day and its prices fell 0.22% to Rs 924.10 per kg in futures trading today as speculators reduced their holdings on account of sluggish demand in the spot market.
Adequate stocks position on higher supplies from Chandausi in Uttar Pradesh further fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in July declined by Rs 2 or 0.22% to Rs 924.10 per kg in business turnover of 619 lots.
Likewise, the oil for delivery in August traded lower by Rs 2.10 or 0.22% to Rs 937.50 per kg in 76 lots.
Market analysts said offloading of positions by speculators amid sluggish demand in the spot market against sufficient supplies from Chandausi in Uttar Pradesh mainly kept pressure on mentha oil prices at futures market.
