Mentha oil declines 0.6% on profit-booking

Subdued demand, adequate stocks influence prices

Mentha oil prices declined by Rs 7.20 to Rs 1,190 per kg in futures trade today as speculators booked profits at prevailing higher levels, driven by subdued demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, mentha oil for delivery in November declined by Rs 7.20, or 0.60%, to Rs 1,190 per kg, with a business turnover of 169 lots.

The December contract shed Rs 6.80, or 0.56%, to Rs 1,204.50 per kg, with a business turnover of 59 lots.

Marketmen attributed the fall in mentha oil futures to profit-booking by speculators at prevailing higher levels amid a subdued demand in the spot market.