Mentha oil prices drifted lower by 0.60 per cent to Rs 917.50 per kg in futures trade today as speculators lowered their bets, taking negative cues from the spot market on easing demand from consuming industries.
Besides, ample stock position on increased supplies from producing regions put pressure on mentha oil prices.
At Multi Commodity Exchange, mentha oil for delivery in June fell by Rs 5.50, or 0.60 per cent, to Rs 917.50 per kg in a business turnover of 249 lots.
Similarly, the oil for delivery in July contracts moved down by Rs 5.40, or 0.58 per cent, to Rs 930.90 per kg in 63 lots.
Market analysts said cutting down of positions by participants on the back of easing demand from consuming industries in the spot market against ample stock position on higher supplies from Chandausi in Uttar Pradesh mainly led to the fall in mentha oil prices in futures trade.
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