Mentha oil down 0.25% on profit-booking

Mentha oil futures prices slipped by Rs 3.20 to Rs 1,319.50 per kg today, as speculators booked profits at existing higher levels, driven by a weak trend at spot market on sluggish demand.

Increased arrivals in the physical market from producing belts in Uttar Pradesh also kept pressure on the mentha oil futures prices.

At the Multi Commodity Exchange, December mentha oil declined by Rs 3.20, or 0.24%, to Rs 1,319.50 per kg, with a business turnover of 753 lots.

The January contract traded lower by Rs 2, or 0.15%, to Rs 1,311 per kg, with a trade volume of 199 lots.

Market analysts said the weakness in mentha oil futures was mostly due to profit-taking by speculators and weak trend at spot market on sluggish demand.