Mentha oil down 0.9% on profit-booking

Oil for delivery in November declined by 0.84%

Mentha oil prices fell by 0.91% to Rs 855.10 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 7.90, or 0.91%, to Rs 855.10 per kg, with a business turnover of Rs 284 lots.

Similarly, the oil for delivery in November declined by Rs 7.40, or 0.84%, to Rs 869 per kg in 44 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.