NEW DELHI, Sept 18: Mentha oil prices drifted lower by 0.42 per cent to Rs 1,196.60 per kg in futures trade today as speculators trimmed positions, driven by sluggish demand from industries at spot market.
Besides, ample stocks position on higher supplies from producing regions too influenced mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery this month traded lower by Rs 5.10, or 0.42 per cent, to Rs 1,196.60 per kg, in a business turnover of 359 lots.
The oil for delivery in October declined by Rs 4.60, or 0.38 per cent, to Rs 1,211.20 per kg in 88 lots.
Analysts said offloading of positions by participants due to subdued demand from consuming industries at spot markets against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade. (PTI)
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