Mentha oil turns weak on profit-booking

July, August contracts shed 0.24% on amid sluggish demand in the spot market

Mentha oil futures turned weak today with prices falling by 0.24% as speculators preferred to book profits at existing levels amid subdued trend at the spot market on sluggish demand.

Besides, increased arrivals in the physical market from major producing belts in Uttar Pradesh also weighed on mentha oil prices at futures trade, traders said.

At the Multi Commodity Exchange, mentha oil for delivery in July shed Rs 3.20, or 0.24%, to Rs 1,338.70 per kg, with a business turnover of 362 lots.

The August contract traded lower by Rs 3.30, or 0.24%, to Rs 1,363 per kg in 134 lots.