Mentha oil declines 0.4% on profit-booking
Speculators indulged in booking profits at prevailing levels after decline in demand
)
Mentha oil prices fell 0.37% to Rs 775.50 per kg in futures trading today as speculators indulged in booking profits at prevailing levels after decline in demand from consuming industries in the spot market.
Besides, adequate stocks position in the physical market due to increased arrivals from Chandausi in Uttar Pradesh put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in July traded lower by Rs 2.90, or 0.37%, to Rs 775.50 per kg in business turnover of 275 lots.
Similarly, the oil for delivery in June contract shed Rs 2.60, or 0.34%, to Rs 762 per kg in 258 lots.
Analysts said besides profit-booking by speculators, fall in demand from consuming industries in the spot market, mainly led to the fall in mentha oil prices in futures trade.
Besides, adequate stocks position in the physical market due to increased arrivals from Chandausi in Uttar Pradesh put pressure on mentha oil.
At the Multi Commodity Exchange, mentha oil for delivery in July traded lower by Rs 2.90, or 0.37%, to Rs 775.50 per kg in business turnover of 275 lots.
Similarly, the oil for delivery in June contract shed Rs 2.60, or 0.34%, to Rs 762 per kg in 258 lots.
Analysts said besides profit-booking by speculators, fall in demand from consuming industries in the spot market, mainly led to the fall in mentha oil prices in futures trade.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jun 24 2014 | 11:33 AM IST