New Delhi, Dec 29 (PTI) Mentha oil prices traded 1.78 per cent lower at Rs 1,743.80 per kg in futures trade today as speculators cut positions, triggered by muted demand from consuming industries in the spot market. Also Read - BREAKING: Policeman Shoots Self Dead at Lucknow Assembly Gate, Probe On

Besides, ample stock position on higher supplies from major producing belts of Chandausi in Uttar Pradesh fuelled the downtrend. Also Read - UP Gram Panchayat Election 2021: Reservation List of Seats Released For Varanasi District | Download Full List Here

At the Multi Commodity Exchange, mentha oil for delivery in January declined Rs 31.60, or 1.78 per cent, to Rs 1,743.80 per kg, in business turnover of 1,260 lots. Also Read - UP: 2 Gorakhpur Cops Suspended For Not Taking Action On Rape Survivor's Complaint

On similar lines, the oil for delivery in February traded Rs 26.80, or 1.49 per cent, lower at Rs 1,769 per kg in 135 lots.

Analysts said offloading of bets by participants amid subdued demand from consuming industries in the spot market led to the decline in prices.

This is published unedited from the PTI feed.