Mentha oil futures extend losses on profit booking

Mentha oil futures prices continued to slide for the second straight day by losing Rs 7.10 to Rs 1,147.40 per kg today on continued profit taking by speculators due to sluggish demand in the spot market.    

At the Multi Commodity Exchange, mentha oil for delivery in January declined by Rs 7.10, or 0.61 per cent, to Rs 1,147.40 per kg, with a business turnover of just two lots. 

Likewise, the oil for delivery in February lost Rs 5.50, or 0.47 per cent, to Rs 1,161.50 per kg, with a business turnover of one lot.

The persistent fall in mentha oil prices was mostly due to profit booking by speculators and weak trend at the spot market on sluggish demand, traders said.