NEW DELHI, July 16: Mentha oil prices were quoting lower by 1.14 per cent to Rs 1,585 per kg in futures trade today as speculators trimmed positions, driven by a sluggish demand from consuming industries at the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in the current month drifted lower by Rs 18.40, or 1.14 per cent, to Rs 1,585 per kg in a business turnover of 467 lots.
On similar lines, the oil for delivery in August fell by Rs 15.80, or 0.97 per cent, to Rs 1,607 per kg in 251 lots.
Analysts said offloading of positions by participants on the back of subdued demand from consuming industries at spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh led to the decline in mentha oil prices in futures trade. (PTI)
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