Mentha oil down 0.2% on profit booking

Oil for delivery in February weakened by 0.24%

Mentha oil prices declined by 0.27% to Rs 823.90 per kg in futures market today as speculators indulged in profit-booking at prevailing levels on sluggish demand from consuming industries in the spot market.

Increased arrivals from Chandousi in Uttar Pradesh also put pressure on mentha oil.

At the Multi Commodity Exchange, mentha oil for delivery in January declined by Rs 2.20, or 0.27%, to Rs 823.90 per kg in a business turnover of 79 lots.

Similarly, oil for delivery in February weakened by Rs 2, or 0.24%, to Rs 835.30 per kg in 38 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, sluggish demand from consuming industries in the spot market, mainly led to decline in mentha oil prices at futures market.