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Mentha oil prices fell by Rs 0.70 to Rs 937 a kg in futures trade today, amid profit-booking by speculators against subdued spot demand.
Adequate stocks at the spot markets following increased arrivals from producing belts in Uttar Pradesh also weighed down on oil prices at futures trade. At the Multi Commodity Exchange, mentha oil for delivery in May shed Rs 20.70 or 2.16 per cent to Rs 937 a kg, with an open interest of a single lot. Similarly, the oil for delivery in April declined by Rs 15.50 or 1.40 per cent to Rs 1,094.20 a kg, with a business turnover of just one lot.
Mentha oil prices for delivery in March moved down by Rs 7.70 or 0.59 per cent to Rs 1,303.60 a kg, with a business volume of a single lot.
Traders attributed the fall in prices to profit booking by speculators amid subdued demand in the spot market, especially from pharmaceutical units.
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