Mentha oil futures lose ground on profit-booking

Mentha oil prices softened by Rs 5.10 to Rs 1,303 per kg in futures trade today as speculators booked profits at existing higher levels, influenced by a weak trend in the spot market.

At the Multi Commodity Exchange, December mentha oil declined by Rs 5.10, or 0.39%, to Rs 1,303 per kg, with an open interest for 185 lots.

The January contract was trading lower by Rs 1.10, or 0.08%, at Rs 1,314.10 per kg in 378 lots.

Market analysts said besides profit-booking, a weakening trend in the spot market due to weak demand from pharmaceutical units mainly depressed mentha oil prices in futures trade.