Mentha oil futures prices on Tuesday tumbled by Rs 77.40, or 4 per cent to hit lower circuit at Rs 1,856.20 a kg in the domestic market after speculators offloaded positions amid a weak spot demand and profit booking.
In addition, increased arrivals in the spot markets from Chandousi in Uttar Pradesh further dampened trading sentiment.
At the Multi Commodity Exchange, mentha oil for delivery in May traded sharply lower by Rs 77.40, or 4 per cent, to Rs 1,856.20 a kg, with a business volume of four lots.
Similarly, Mentha oil prices for April delivery plunged by Rs 76.50, or 4 per cent, to Rs 1,837a kg, with a business turnover of four lots.
Analysts said weak demand from pharmaceutical industries in the spot markets against increased arrivals, mainly put pressure on the mentha oil prices at futures trade here.