Mentha oil prices decline on profit-booking

The fall is attributed to profit-booking by speculators and weak trend at spot market on subdued demand

Mentha oil prices fell by Rs 34.70 to Rs 1,390.10 per kg in futures trade today as speculators indulged in profit-booking, driven by subdued spot demand.

Trading sentiments weakened further due to adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh.

At the MCX, the May delivery fell by Rs 34.70, or 2.43%, to Rs 1,390.10 per kg, with a business volume of 293 lots.

The June delivery declined by Rs 27.70, or 1.97%, to Rs 1,376 per kg, with a business turnover of 224 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.

They said the less industrial demand for the commodity also influenced the prices.