Mentha oil futures drift 1.1% on profit booking

Mentha oil prices fell by Rs 12.20 to Rs 1,093.10 per kg in futures trade today as speculators were busy in profit booking, driven by weak demand in the spot market.

Adequate stocks followed by an increased trend in arrivals from producing regions also influenced the mentha oil futures prices.

At the Multi Commodity Exchange counter, mentha oil for delivery in December fell by Rs 12.20, or 1.1 per cent, to Rs 1,093.10 per kg, with a business turnover of five lots.

Similarly, the oil for delivery in February declined by Rs 10.20, or 0.91 per cent, to Rs 1,110.50 per kg with an open interest of just a single lot.

Fall in mentha oil prices was mainly due to profit booking by speculators and weak demand in the spot market, traders said.