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Mentha oil remained weak for the second straight day and prices fell further by 0.57% to Rs 745 per kg in futures trade today as speculators indulged in reducing positions, tracking a weak trend at spot market on lower demand.
Higher supplies from producing belts put pressure on mentha oil.
At the Multi Commodity Exchange market, mentha oil for delivery in February month eased by Rs 4.30, or 0.57% to Rs 745 per kg in business turnover of 178 lots.
Likewise, the oil for delivery in January contracts traded lower by Rs 3.80, or 0.51% to Rs 734.60 per kg in 304 lots.
Analysts said offloading of positions by speculators amid sluggish demand from consuming industries in the spot markets mainly kept mentha oil prices lower at futures trade.
