Mentha oil futures decline on profit-taking

Mentha oil prices declined by Rs 9.90 to Rs 1,235.80 per kg in futures market today, as speculators indulged in booking profits at existing higher levels amid fall in demand in the spot market.

Reduced offtake by pharmaceutical units also influenced the mentha prices.

At the Multi Commodity Exchange platform, mentha for February declined by Rs 9.90, or 0.79 per cent, to Rs 1,235.80 per kg, with an open interest of single lot.

Similarly, the oil for delivery in December lost Rs 7.60, or 0.62 per cent to Rs 1,223.70 per kg, with an open interest of just one lot.

Traders said besides profit taking by speculators, fall in demand in the spot market led to a decline in mentha oil prices.