Mentha oil turns weak on profit-booking

Mentha oil turned weak and prices fell by 0.28% to Rs 1,557.20 per kg in futures market today as speculators indulged in booking profits at existing higher levels.

At the Multi Commodity Exchange, mentha oil for delivery in March lost Rs 4.40, or 0.28%, to Rs 1,557.20 per kg, with a business turnover of 279 lots.

The February contract shed Rs 2.60, or 0.17%, to Rs 1,542 per kg in 1,302 lots.

Market analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market also kept pressure on mentha oil prices at futures trade.