Mentha oil turns weak on profit booking

Mentha oil prices fell by Rs 9.40 to Rs 1,168.20 per kg in futures trade today as traders indulged in profit booking, driven by subdued demand in the spot market.

At the Multi Commodity Exchange counter, mentha oil for delivery in January declined by Rs 9.40, or 0.80 per cent to Rs 1,168.20 per kg, with a business turnover of 477 lots.

Similarly, the delivery in February-month contract eased by Rs 7.20, or 0.61 per cent, to Rs 1,167 per kg, with a business turnover of 113 lots.

While March-month delivery contract fell by Rs seven, or 0.59 per cent, to Rs 1,167 per kg, with an open interest of 50 lots.

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