Mentha oil prices drifted 1.55 per cent lower to Rs 1,502.70 per kg in futures trade today as speculators engaged in reducing positions, driven by easing demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in February fell Rs 23.70, or 1.55 per cent, to Rs 1,502.70 per kg in business turnover of 182 lots.
Likewise, the oil for delivery in January contracts was trading lower by Rs 21.70, or 1.44 per cent, to Rs 1,485 per kg in 243 lots.
Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market against adequate stocks position kept mentha oil prices down.
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