Mentha oil remains weak on profit booking

Mentha oil prices slipped further by Rs 8.20, to Rs 1194 per kg in futures trading today, as speculators continued to book profits, following a weakening trend at the spot market.

Increased arrivals from producing region also dampened the trading sentiment.

At the Multi Commodity Exchange platform, mentha oil for delivery in March declined by Rs 8.20, or 0.68 per cent, to Rs 1,194 per kg, with an open interest of just one lot.

Likewise, the oil for delivery in January lost Rs 7, or 0.59 per cent, to Rs 1,180.60 per kg, with a business turnover of four lots.

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