Mentha oil falls on profit-booking, down 3%

Mentha oil extended yesterday's losses with prices falling by another Rs 71 to Rs 2,296.10 per kg in futures market today as speculators engaged in profit booking at higher levels amid a weak spot market trend.

Increased arrivals from Chandousi in Uttar Pradesh also put pressure on mentha oil prices.

At the Multi Commodity Exchange, the May delivery fell further by Rs 71, or 3%, to Rs 2,296.10 per kg, with a business turnover of 61 lots.

The April contract lost Rs 42, or 1.78%, to Rs 2,313.70 per kg, with a business turnover of 300 lots.

Market analysts said besides continued profit-bookings by speculators at prevailing higher levels, sluggish demand in the spot market mainly kept pressure on mentha oil prices at futures trade.