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Mentha oil futures drop 1.23% on profit-booking

Press Trust of India  |  New Delhi 

Mentha prices fell 1.23 per cent to Rs 1,649.60 per kg in futures trade as speculators booked profits at prevailing levels amid easing demand in the spot market.

Besides, ample stocks on higher supplies from major producing belts of Chandausi in Uttar Pradesh, too, weighed on prices.

At the Multi Commodity Exchange, mentha for delivery in January moved Rs 20.50, or 1.23 per cent lower to Rs 1,649.60 per kg in business turnover of 133 lots.

Likewise, the for delivery in February contracts lost Rs 20.30, or 1.20 per cent, to Rs 1,669.30 per kg in 37 lots.

Analysts said besides profit-booking by participants at existing levels, decline in demand from consuming industries in the physical market against sufficient stocks position on increased arrivals from Chandausi in Uttar Pradesh, led to the fall in mentha prices.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 12 2018. 11:10 IST