Mentha oil futures decline over 1% on profit-booking

Mentha oil prices drifted lower by 1.02 per cent in futures trade Tuesday as participants booked profits amid easing demand from consuming industries at the spot markets.

In futures trading at the Multi Commodity Exchange, mentha oil to be delivered this month fell by Rs 17.60, or 1.02 per cent, to Rs 1,707 per kg in a business turnover of 151 lots.

Analysts said off-loading of positions by participants due to profit-booking by speculators amid subdued demand from consuming industries at the domestic spot markets, led to the fall in mentha oil prices at futures trade here.