Mentha oil loses ground on profit-booking

Mentha oil shed another Rs 5.40 to Rs 1,293.50 per kg in the futures market today on continued profit-booking driven by subdued demand in the spot market.

Increased arrivals from Chandausi, in Uttar Pradesh, also weighed on mentha oil futures prices.

At the Multi Commodity Exchange, January mentha oil fell by Rs 5.40, or 0.42%, to Rs 1,293.50 per kg, with an open interest for 64 lots.

The December contract  lost Rs 3.20, or 0.25%, to Rs 1,293.20 per kg in 181 lots.

Market analysts said apart from profit-booking by speculators, sluggish demand in the spot market mainly led to the decline in mentha oil prices in futures trade.