Mentha oil shed 2% per cent on profit-booking
Higher arrivals from Chandousi in Uttar Pradesh push prices down further
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Mentha oil prices fell by 1.97 per cent to Rs 769.90 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 pushed prices down further.
At the Multi Commodity Exchange, mentha oil for delivery in March fell Rs 15.50, or 1.97 per cent, to Rs 769.90 per kg, with a business volume of 95 lots.
The February contract drifted by Rs 2.60, or 0.33 per cent, to Rs 772.60 per kg, with a business turnover of 163 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.
Besides, adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh pushed prices down further.
At the Multi Commodity Exchange, mentha oil for delivery in March fell Rs 15.50, or 1.97 per cent, to Rs 769.90 per kg, with a business volume of 95 lots.
The February contract drifted by Rs 2.60, or 0.33 per cent, to Rs 772.60 per kg, with a business turnover of 163 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.
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First Published: Feb 18 2014 | 12:19 PM IST