Mentha oil futures weaken on profit booking

Mentha oil fell by Rs 8.20 to Rs 964.20 per kg in futures trading today on continued profit booking by speculators driven by subdued spot demand.    

At the Multi Commodity Exchange, mentha oil for delivery in May slid by Rs 8.20, or 0.84 per cent, to Rs 964.20 per kg, with an open interest of a single lot.

Similarly, the oil prices for delivery in March eased by Rs 3.30, or 0.29 per cent, to Rs 1,133.50 per kg, with a business turnover of two lots.

Traders attributed the fall in mentha oil futures prices to continued profit-booking by speculators along with a weak trend at the spot market on subdued demand. 

 

Adequate stocks following increased arrivals from producing belts in Uttar Pradesh also put pressure on mentha oil futures prices, they added.