Mentha oil down by 0.4% on profit-booking
Speculators booked profits at prevailing higher levels amid sluggish demand in spot markets
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Mentha oil prices were down by 0.46% to Rs 706.50 per kg in futures trade today as speculators booked profits at prevailing higher levels amid sluggish demand from consuming industries in the spot market.
Besides, adequate stocks position in the physical market on increased arrivals from Chandausi in Uttar Pradesh put pressure on prices.
At the Multi Commodity Exchange, mentha oil for delivery in October month fell by Rs 3.30, or 0.46% to Rs 706.50 per kg in business turnover of 181 lots.
Similarly, the oil for delivery in November declined by Rs 2.30, or 0.33% to Rs 695.50 per kg in 227 lots.
Analysts attributed the fall in mentha oil futures to profit-booking by speculators at existing higher levels, driven by sluggish demand from consuming industries in the spot market.
Besides, adequate stocks position in the physical market on increased arrivals from Chandausi in Uttar Pradesh put pressure on prices.
At the Multi Commodity Exchange, mentha oil for delivery in October month fell by Rs 3.30, or 0.46% to Rs 706.50 per kg in business turnover of 181 lots.
Similarly, the oil for delivery in November declined by Rs 2.30, or 0.33% to Rs 695.50 per kg in 227 lots.
Analysts attributed the fall in mentha oil futures to profit-booking by speculators at existing higher levels, driven by sluggish demand from consuming industries in the spot market.
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First Published: Nov 21 2014 | 11:40 AM IST