Mentha oil futures decline on profit-taking
Mentha oil prices declined by Rs 3.80 to Rs 851.20 per kg in futures trade today as speculators booked profits, driven by a subdued spot market demand.
Adequate stocks following increased arrivals from the producing belts also put pressure on the prices.
At the Multi Commodity Exchange, mentha oil for delivery in July declined by Rs 3.80, or 0.44% to Rs 851.20 per kg, with a business turnover of 23 lots. Similarly, the oil for delivery in May shed Re 1, or 0.11% to Rs 871 per kg in 74 lots.
Traders said besides profit-booking by speculators, subdued demand in the spot market mainly led to the fall in mentha oil futures prices.