Mentha oil slides for third day on profit-bookings

Mentha oil prices slid for third day by losing Rs 15.30 to Rs 1246.40 per kg in futures trade today as speculators booking-profits, driven by a fall in demand in the spot market against adequate stocks position.

Adequate stocks availability in the physical market following increased arrivals from Chandausi in Uttar Pradesh also kept pressure on mentha oil futures.

At the Multi Commodity Exchange, March mentha oil fell Rs 15.30, or 1.21% to Rs 1246.40 per kg in business turnover of 506 lots.     

The April delivery declined Rs 9.80, or 0.79% to Rs 1224 per kg in 15 lots.

Traders said besides profit-bookings by speculators, fall in demand in the spot market against adequate stocks availability mainly helped mentha oil to slide for third day at the futures trade.