Mentha oil prices decline 1.1% on profit-booking

Oil prices for the January delivery drifted by 1.06%

Mentha oil prices fell 1.12% to Rs 807.80 per kg in futures trade today as speculators indulged in profit-booking amid subdued spot demand.

Besides, adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh.

At the Multi Commodity Exchange, mentha oil for delivery in December fell by Rs 9.20, or 1.12%, to Rs 807.80 per kg, with a business volume of 198 lots.

Similarly, mentha oil prices for the January delivery drifted by Rs 8.80, or 1.06%, to Rs 819.60 per kg, with a business turnover of 335 lots.

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