Mentha oil prices further went down by 2.73 per cent to Rs 1,259 per quintal in futures trade today, as speculators trimmed positions, driven by subdued demand from consuming industries at the spot market.
Besides, 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 declined by Rs 35.40, or 2.73 per cent, to Rs 1,259 per kg in a business turnover of 86 lots.
Likewise, the oil for delivery in June traded lower by Rs 3.20, or 0.28 per cent, at Rs 1,111.30 per kg in 456 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 for the fourth day in a row.
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