Mentha oil declines on profit-booking

Mentha oil prices fell by Rs 6.10 to Rs 1,304.50 per kg in futures trade today as traders indulged in profit-booking amid a fall in spot and export demand.

On the Multi Commodity Exchange, mentha oil for December contract delivery fell by Rs 6.10, or 0.46%, to Rs 1,304.50 per kg, with an open interest for 389 lots.

In a similar fashion, mentha oil for delivery in January eased by Rs 5.40, or 0.41%, to Rs 1,307.20 per kg -- with an open interest for 99 lots -- while February contract mentha oil fell by Rs 4.80, or 0.37%, to Rs 1,302.20 per kg in two lots.

Market analysts said the fall in mentha oil prices in futures trade was mostly due to profit-booking by speculators amid weak demand in spot and export markets.