Mentha oil declines 3% on profit-booking

Subdued spot demand also pulled prices down

Mentha oil prices fell by Rs 39 to Rs 1,259.40 per kg in futures trade today as traders indulged in profit-booking, driven by subdued spot demand.

In addition, reports of higher arrivals from the fresh crop and higher production estimates also weighed on the prices.

At the MCX, mentha oil for delivery in May fell by Rs 39, or 3%, to Rs 1,259.40 per kg, with a business volume of 224 lots.

The June contract drifted by Rs 31.90, or 2.46%, to Rs 1,261 per kg, with a business turnover of 662 lots.

The fall in mentha oil prices at futures trade was mostly due to profit-booking by speculators following weak trend at spot market on subdued demand, traders said.