Mentha oil prices decline 3% on profit-booking

Mentha oil prices fell by Rs 45.30 to Rs 1,464.20 per kg in futures trade today as speculators indulged in profit-booking, driven by subdued spot demand on reports of higher arrivals from the fresh crop along with poor domestic demand.

Sentiment weakened further due to adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh.

At the MCX, mentha oil for delivery in May fell further by Rs 45.30, or 3% to Rs 1,464.20 per kg, with a business volume of 800 lots.

The June contract drifted by Rs 41.40, or 3%, to Rs 1,337.10 per kg, with a business turnover of 429 lots.

The fall in mentha oil prices at futures trade was mostly due to profit-booking by speculators and weak trend at spot market on subdued demand, traders said.
They said the less industrial demand for the commodity also influenced the prices.