Mentha oil falls 0.55% on profit-booking

Sluggish demand drove prices lower

Mentha oil futures prices fell by Rs 7 to Rs 1,255 per kg in futures trade today as speculators indulged in booking profits driven by sluggish demand in the spot market.

Adequate stocks availability in the physical market also put pressure on mentha oil futures.

At the Multi Commodity Exchange, mentha oil for delivery in July month traded Rs 7, or 0.55%, lower at Rs 1,255 per kg, with a business turnover of 292 lots.

Similarly, the oil for delivery in August shed Rs 6.90, or 0.54%, to Rs 1,275.70 per kg, with a business turnover of 24 lots.

The fall in mentha oil futures was mostly due to profit-booking by speculators, and sluggish demand in the spot market against adequate stocks position, marketmen said.