Mentha oil futures weaken on profit booking

Mentha oil traded lower by Rs 3.20 to Rs 1,158.40 per kg in futures trade today as traders indulged in profit booking, driven by fall in demand in the spot market. 

At the Multi Commodity Exchange counter, mentha oil for delivery in January lost Rs 3.20, or 0.28 per cent, to Rs 1,158.40 per kg, with a business turnover of two lots.

Similarly, the oil for delivery in February shed Rs 2.20, or 0.19 per cent, to Rs 1,157.50 per kg, with an open interest of just one lot. 

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