Mentha oil futures down 0.40 per cent on profit-booking

Mentha oil prices drifted lower by 0.40 per cent in futures trade Thursday after speculators booked profits, driven by easing demand from consuming industries at the spot markets.

Also, ample stocks position on higher supplies from growing belts fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in November fell by Rs 7.20, or 0.40 per cent, to Rs 1,808 per kg in 77 lots.

Analysts said besides profit-booking by participants, fall in demand from consuming industries at current levels in physical markets, ample stock positions on increased supplies form Chandaushi in Uttar Pradesh, weighed on mentha oil prices at futures trade.