Mentha oil falls 1% on profit-booking

Mentha oil prices fell by Rs 23.60 to Rs 2,403.30 per kg in futures trade today as traders booked profits, driven by subdued demand in spot markets.

Adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh also put pressure on mentha oil prices.

At the Multi Commodity Exchange, the April delivery fell by Rs 23.60, or 0.97%, to Rs 2,403.30 per kg, with a business volume of 210 lots.

The May delivery eased by Rs 21, or 0.88%, to Rs 2,361.70 per kg, with a business turnover of 62 lots.

The fall in mentha oil prices at futures trade was mostly due to profit-booking by speculators and a weak trend in the spot market on subdued demand, traders said.

 

They said higher sowing in the producing regions amid poor industrial demand further influenced the market sentiment.