Mentha oil prices drifted lower by 1.30 per cent to Rs 937 per kg in futures market today as speculators cut down their bets, triggered by sluggish demand from consuming industries in the spot markets.
Besides, ample stocks on increased supplies from producing belts also put pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in July fell by Rs 12.30 or 1.30 per cent to Rs 937 per kg in a business turnover of 94 lots.
Likewise, the oil for delivery in August contracts moved down by Rs 10.80 or 1.12 per cent to Rs 951.50 per kg in 972 lots.
Analysts said offloading of positions by participants due to subdued demand from consuming industries in spot market against ample stocks on higher supplies from Chandausi in Uttar Pradesh mainly led to the fall in mentha oil prices at futures trade.
