Mentha oil down 0.8% on profit-booking

Adequate stocks position in the physical market fuelled the downtrend in mentha oil prices

Mentha oil prices fell by 0.83% to Rs 877.10 per kg in futures trade today as speculators booked profits at prevailing higher levels amid a weak demand in the spot market.

Adequate stocks position in the physical market following increased arrivals from Chandousi in Uttar Pradesh also fuelled the downtrend in mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in October fell by Rs 7.40, or 0.83%, to Rs 877.10 per kg, with a business turnover of Rs 123 lots.

Similarly, the oil for delivery in September declined by Rs 7.10, or 0.81%, to Rs 862.50 per kg in 153 lots.
 

Marketmen attributed the fall in mentha oil futures to profit-booking by speculators after recent gains and a weak industrial demand in the spot market.