Mentha oil falls 0.65% on profit-booking

Adequate stocks, weak industrial demand influence prices

Mentha oil fell by Rs 8 to Rs 1,205 per kg in futures trade today as speculators booked profits at prevailing higher levels amid weak demand in the spot market.

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

At the Multi Commodity Exchange, mentha oil for delivery in September fell by Rs 8, or 0.65%, to Rs 1,205 per kg, with a business turnover of 218 lots.

The October contract declined by Rs 8, or 0.65%, to Rs 1,220.70 per kg, with a business turnover of 414 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.