Mentha oil sheds 0.8% on profit-booking

Traders offload positions on higher arrivals from key growing areas

Mentha oil prices fell 0.83 per cent to Rs 1,252 per kg in futures trade today on profit-booking by speculators amid increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh.     

At the Multi Commodity Exchange, mentha oil for delivery in March fell Rs 10.60, or 0.83 per cent, to Rs 1,252 per kg, with a business volume of 559 lots.     

The April contract traded Rs 9, or 0.72 per cent lower at Rs 1,238.70 per kg, with a trading volume of 138 lots.     

Traders said the fall in mentha prices at futures market was mostly due to profit-booking by speculators at higher levels amid a subdued domestic demand and increased arrivals from producing regions.