Mentha oil weakens 3% on profit-booking

Mentha oil prices fell by Rs 74 to Rs 2,391.70 per kg in futures trade today as traders booked profits, driven by subdued demand in spot market.

Adequate stocks position following increased arrivals from Chandousi in Uttar Pradesh also put pressure on mentha oil prices.

At the Multi Commodity Exchange, the May contract declined by Rs 74, or 3%, to Rs 2,391.70 per kg, with a business volume of 410 lots.

The April contract eased by Rs 73.40, or 3%, to Rs 2,373.20 per kg, with a business turnover of 827 lots.

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