Mentha oil prices drifted lower by 0.26 per cent to Rs 1,042.50 per kg in futures trade today as speculators trimmed their positions, taking negative cues from spot market.
At the Multi Commodity Exchange, mentha oil for delivery in March declined by Rs 2.70, or 0.26 per cent to Rs 1,042.50 per kg in business turnover of 83 lots.
Likewise, the oil for delivery in far-month April contracts traded lower by Rs 2.10, or 0.20 per cent to Rs 1,045.50 per kg in 4 lots.
Analysts said offloading of positions by traders on the back of easing demand from consuming industries in the spot market against adequate stocks position on increased supplies from Chandousi in Uttar Pradesh, mainly led to decline in mentha oil prices at futures trade.
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