Mentha oil down 1.9% on profit-booking
The oil for delivery in August declined by 1.78%
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Mentha oil prices fell by Rs 17 to Rs 869.10 per kg in futures trading today after 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 July fell by Rs 17, or 1.91%, to Rs 869.10 per kg, with a business turnover of Rs 283 lots.
Similarly, the oil for delivery in August declined by Rs 16, or 1.78%, to Rs 881.80 per kg in 645 lots.
Marketmen said the fall in mentha oil futures was mainly due to profit-booking by speculators after recent gains and a weak demand from consuming industries 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 July fell by Rs 17, or 1.91%, to Rs 869.10 per kg, with a business turnover of Rs 283 lots.
Similarly, the oil for delivery in August declined by Rs 16, or 1.78%, to Rs 881.80 per kg in 645 lots.
Marketmen said the fall in mentha oil futures was mainly due to profit-booking by speculators after recent gains and a weak demand from consuming industries in the spot market.
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First Published: Jul 29 2013 | 1:52 PM IST