Mentha oil prices went down by 0.47 per cent to Rs 1,532 per quintal in futures trade today, as speculators trimmed positions, driven by subdued demand from consuming industries at spot market.
Moreover, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh, fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in the current month contract declined by Rs 7.30, or 0.47 per cent, to Rs 1,532 per kg in a business turnover of 656 lots.
Likewise, the oil for delivery in August traded lower by Rs 6.80, or 0.44 per cent, at Rs 1,551.50 per kg in 501 lots.
Analysts said, offloading of positions by participants owing to slackened demand from consuming industries at the spot market against ample stocks position led to the decline in mentha oil prices in futures trade.
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