Mentha oil futures remains weak on profit-taking

Mentha oil prices fell further by Rs 15.80 to Rs 832.10 per kg in futures trade today as traders indulged in profit-booking at existing at high prices amid fall in spot market demand.  

Increased arrivals from producing belts in Uttar Pradesh also put pressure on the prices.

At the Multi Commodity Exchange, mentha oil for delivery in August, declined by Rs 15.80, or 1.86%, to Rs 832.10 per kg, with a business turnover of 76 lots.

Similarly, the oil for delivery in July eased by Rs 14.20, or 1.68%, to Rs 825.20 per kg, with a business turnover of 371 lots.

 

The mentha oil prices for delivery in June fell by Rs 12.60, or 1.50%, to Rs 825.20 per kg, with a business turnover of 416 lots.

The fall in mentha oil prices was mostly due to profit-taking by speculators and fall in demand in the spot market, traders said.