Mentha oil down 1.1% on profit-booking
Oil for delivery in August traded lower by 0.8%
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Mentha oil prices moved down by 1.05% to Rs 705.10 per kg in futures trade today as speculators booked profits at prevailing higher levels amidst subdued demand in spot markets.
Besides, adequate stocks position following increased arrivals from producing regions in the physical market put pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in July fell by Rs 7.50, or 1.05%, to Rs 705.10 per kg in a business turnover of 96 lots.
Similarly, the oil for delivery in August traded lower by Rs 6, or 0.83%, to Rs 719.50 per kg in 116 lots.
Analysts said the fall in mentha futures was mostly due to profit-booking by speculators at existing higher levels and sluggish demand from consuming industries in spot markets.
Besides, adequate stocks position following increased arrivals from producing regions in the physical market put pressure on mentha oil prices.
At the Multi Commodity Exchange, mentha oil for delivery in July fell by Rs 7.50, or 1.05%, to Rs 705.10 per kg in a business turnover of 96 lots.
Similarly, the oil for delivery in August traded lower by Rs 6, or 0.83%, to Rs 719.50 per kg in 116 lots.
Analysts said the fall in mentha futures was mostly due to profit-booking by speculators at existing higher levels and sluggish demand from consuming industries in spot markets.
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First Published: Jul 25 2014 | 11:38 AM IST