Mentha oil futures down on profit taking

Mentha oil prices fell by Rs 4.70 to Rs 1,128.30 per kg in futures trading today as speculators booked profits, amid weakening trend at the spot market.  

Increased arrivals in the physical market from the producing regions also put pressure on the mentha oil futures prices.

At the Multi Commodity Exchange, mentha oil for February contract fell by Rs 4.70, or 0.41 per cent, to Rs 1,128.30 per kg, with a business turnover of three lots.

Likewise, the oil for delivery in March declined by Rs 2.50, or 0.22 per cent, to Rs 1,134.10 per kg, with a trade volume of just one lot.   

 

Market analysts said besides profit booking by speculators, weakening trend at spot market on subdued demand mainly led to the decline in mentha futures prices.